Forex News

NFP could be the Last Horse in the Trifecta

What a week it has been so far!  Worse than expected ISM Manufacturing and worse than expected ADP Employment data has tanked stocks and the US Dollar.  Tomorrow we get Nonfarm Payroll (NFP) data for September, which could be the third horse in the trifecta if the data comes in worse than expected.  The headline …

ISM Services PMI: A Few Worrying Signs Yet With Some Positives Too | S&P500

There was more anticipation than usual for this month’s ISM Non-Manufacturing PMI. Why? As it’s much older brother, the ISM manufacturing PMI essentially rolled over and went into the fetal position. Fears of a global slowdown were already weighing on sentiment ahead of ISM manufacturing sinking to a 10-year low, until the dire number finally …

Market Brief: All Calm Ahead Of NFP

FX Brief:·          It was the usual narrow ranges ahead of today’s NFP report, although NZD is currently the strongest major and largest mover. (CHF is the weakest). NZD/CAD extended its bullish reach to a 3-week high and a 6-day high against the dollar. AUD is firmer on stronger retail sales and …

CAD/JPY at risk of minor bounce before new drop as NFP Canada PMI looms

Short-term technical outlook on CAD/JPY click to enlarge charts Key Levels (1 to 3 days) Intermediate resistance: 80.50 Pivot (key resistance): 80.75 Supports: 79.80 & 79.50/30 Next resistance: 81.70/80 Directional Bias (1 to 3 days) The CAD/JPY is now at risk of a minor corrective rebound to retrace the recent 2-day of steep decline from …

NFP Preview: Another Weak Report Could Cement a Fed Rate Cut This Month

Background Every month, we remind traders that the Non-Farm Payrolls report is significant because of how it impacts monetary policy. In other words, the Fed is the “transmission mechanism” between US economic reports and market prices, so any discussion about NFP should start with a look at the state of the US central bank. When …

Gold set to resume rally amid renewed falls for yields, stocks

Gold has been one the main beneficiaries from Tuesday’s publication of a very poor US manufacturing PMI report, which caused havoc in the markets. The news hurt stocks and the US dollar, causing bond yields to fall as investors sought the relative safety of government bonds. Dollar-denominated and safe-haven gold thus found itself in unexpected …

Market Brief: ADP confirms Orange Alert for Friday’s Payrolls

Stock market snapshot as of [2/10/2019 2:17 PM] ADP’s monthly payrolls take has disappointed. Generally seen as a curtain raiser for official payrolls that are usually released days afterwards, the ADP came out at 135,000 when 140,000 was expected. Crucially, the previous month’s reading was revised sharply lower to 157,000 from 195,000 Foreboding about the …

ASX200 Mean Reversion Could (Finally) Be Underway

We’ve been monitoring the potential for an inflection point on the ASX200 for the past couple of weeks and it appears cracks are now appearing at recent highs. There’s no denying it remains within a long-term uptrend trend on the weekly chart, as it trades within an established bullish channel. Yet this channel allows for …

AUD/USD Hits Lowest Level in a Decade – More to Come?

For many traders, yesterday’s abysmal ISM Manufacturing PMI reading led to a “sell first, ask questions later” response in risk assets. Everything from global equities to oil to growth-sensitive currencies have fallen sharply as markets increase bets on a coordinated global slowdown. Coming on the back of the Tuesday’s RBA meeting, when the central bank …

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