The US$ has gained with flight to safety activity following gloomy US jobs and Covid data. The S&P500 remains below the all-important 2,900 – 3,000 range keeping this as the zone to watch for the week especially with this week’s NFP.
Data: Watch today with AUD Trade Balance, NZD Inflation Expectations, CNY Trade Balance, the BoE rate update, US weekly Unemployment Claims and an ECB Lagarde speech.
Earnings:
DXY 4hr: the US$ has rallied above 100 so watch to see if the index can progress past the previous High. A weekly close above 100 would be bullish.
Markets:
S&P500 4hr: price action reversed at the 4hr chart’s 61.8% fib. Note the revised trend lines on the second chart and how this has a bit of a Bull Flag look to it:
ASX-200 4hr: watch for any new close below the 4hr Flag.
Gold 4hr: still in the 4hr wedge:
Oil daily: a bearish day but the first in a while so, not unexpected:
EUR/USD 4hr: lower on the day so watch the bottom trend line for any new make or break:
AUD/USD 4hr: back below 0.64 but watch for any Bull Flag:
AUD/JPY 4hr: a Bull Flag look here too:
NZD/USD 4hr: watch 0.60 for any new make or break:
