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US Nonfarm Payrolls Headline Final Session Of Week (05-Jan-2018    at   01:35:25 pm)

After an active first week of 2018, attention shifts on Friday to the most anticipated report of the month: US nonfarm payrolls. The December release is expected to confirm what we already know about the labour market – that it is expanding firmly.

Forex Analysis: Australian Trade Balance Misses Expectations (05-Jan-2018    at   01:28:37 pm)

Australian Trade Balance for November came in very wide of the mark at -628M v an expected 915M. The previous reading was revised down to -302M from 105M. This was the second month in a row where there was a substantial miss to the downside. AUDUSD moved lower from 0.78679 to 0.78429.

Currencies: EUR/USD Testing Range Top Ahead Of The US Payrolls (05-Jan-2018    at   12:57:34 pm)

Yesterday, the dollar showed a mixed picture and couldn't fully profit from a very strong ADP labour market report. Today, EMU inflation is expected soft, but it isn't evident that this will break the strong euro momentum. The dollar probably needs very strong payrolls and, in particular strong wage data, to change fortunes

Market Update - Asian Session: Asian Equities And Currencies Trade Generally Higher (05-Jan-2018    at   12:51:55 pm)

Aussie declines after weaker than expected Nov trade data; Australia Nov Trade Balance (A$) -628M v +550Me (2nd straight deficit); Prior trade revised lower from +105M to 302M (first deficit since Oct 2016)

USD/JPY Remains In Broad Range Of 112.00-114.00 (05-Jan-2018    at   12:35:01 pm)

The US Dollar remained above the 112.00 support area in 2017 against the Japanese Yen. The USD/JPY pair is currently moving higher towards a major resistance zone of 113.50-114.00. Looking at the 4-hours chart, it seems like the pair is trading in a broad range of 112.00-114.00. It found strong bids around the lower end of the range at 112.00, but at the same time struggled to break the 113.50-114.00 resistance zone.

Australia's Trade Deficit Hit Its Highest Level In More Than A Year In November (05-Jan-2018    at   12:10:21 pm)

The pair is expected to find support at 0.7832, and a fall through could take it to the next support level of 0.7806. The pair is expected to find its first resistance at 0.7876, and a rise through could take it to the next resistance level of 0.7894.

Euro-Zone's Services Sector Grew More Than Initially Estimated In December (05-Jan-2018    at   12:09:13 pm)

The pair is expected to find support at 1.2028, and a fall through could take it to the next support level of 1.1983. The pair is expected to find its first resistance at 1.2104, and a rise through could take it to the next resistance level of 1.2135.

UK's Services Sector Growth Came In Stronger-Than-Estimated In December (05-Jan-2018    at   12:08:10 pm)

The pair is expected to find support at 1.3530, and a fall through could take it to the next support level of 1.3494. The pair is expected to find its first resistance at 1.3585, and a rise through could take it to the next resistance level of 1.3604.

Japan's Services Sector Growth Slowed To A 3-Month Low Level In December (05-Jan-2018    at   12:07:13 pm)

The pair is expected to find support at 112.60, and a fall through could take it to the next support level of 112.36. The pair is expected to find its first resistance at 112.97, and a rise through could take it to the next resistance level of 113.10.

Swiss Franc Trading A Tad Higher This Morning (05-Jan-2018    at   12:05:12 pm)

The pair is expected to find support at 0.9728, and a fall through could take it to the next support level of 0.9712. The pair is expected to find its first resistance at 0.9770, and a rise through could take it to the next resistance level of 0.9796.

Loonie Trading Slightly Higher, Ahead Of Canada's Unemployment Rate Data (05-Jan-2018    at   12:02:47 pm)

The pair is expected to find support at 1.2466, and a fall through could take it to the next support level of 1.2444. The pair is expected to find its first resistance at 1.2527, and a rise through could take it to the next resistance level of 1.2566.

NFP Preview: Could a Strong US Jobs Report Help Boost the Struggling Dollar? (05-Jan-2018    at   07:08:50 am)

The official US jobs data for December will be reported on Friday morning by the US Department of Labor, and consensus expectations are pointing to a likely continuation of the strong job creation that prevailed through much of last year (September weather disruptions notwithstanding). Around 190,000 non-farm jobs are expected to have been added to the US economy in December following a better-than-expected showing of 228,000 jobs added in November. Given Thursday's strong ADP jobs beat for December, Friday's official non-farm payrolls could potentially surpass expectations once again.

US Dollar Weak Ahead of US Jobs Report (05-Jan-2018    at   07:04:03 am)

The USD fell on Thursday despite a strong private jobs report released in the morning. The ADP showed that 250,000 jobs were added in December beating a forecast of 190,000 positions. Bears continue to pressure the greenback as the U.S. Federal Reserve is losing its status as the lone central bank tightening monetary policy. The EUR is near three year highs as economic growth has put the European Central Bank (ECB) in a position to start removing stimulus on its way to higher rates. Rising political risk in the US has led the growth and monetary policy stories from having less impact ahead of this year's primaries.

Market Trends to Watch for in 2018 (05-Jan-2018    at   07:02:21 am)

Central banks tapering – since 2008, G10 central banks have been employing expansionary monetary policies to stimulate their economies. With growth around the globe now looking healthier, the trend has started to reverse. How far can G10 yields back up? Will the BoJ be the exception?

Gold Gains Ground on Mixed US Employment Data (05-Jan-2018    at   06:59:40 am)

Gold has rebounded on Thursday, posting considerable gains. In North American trade, the spot price for an ounce of gold is $1381.81, up 0.41% on the day. On the release front, ADP Payrolls report jumped to 250 thousand, crushing the estimate of 191 thousand. However, unemployment claims rose to 250 thousand, higher than the forecast of 241 thousand. The focus remains on job data on Friday, with the release of Average Hourly Earnings and Nonfarm Payrolls. Traders should be prepared for some movement in gold prices in Friday's North American session.

Canadian Dollar Inches Lower, Markets Eye US, Canadian Job Numbers (05-Jan-2018    at   06:58:45 am)

The Canadian dollar has ticked lower in the Wednesday session. Currently, the pair is trading at 1.2520, down 0.12%. On the release front, US employment numbers were a mixed bag. The ADP Payrolls report jumped to 250 thousand, crushing the estimate of 191 thousand. However, unemployment claims rose to 250 thousand, higher than the forecast of 241 thousand. In Canada, RMPI jumped 5.5%, compared to 3.8% a month earlier. On Friday, there are key events on both sides of the border, led by US Nonfarm Payrolls, wage growth and Canadian Employment Change. Traders should be prepared for some movement from USD/CAD during Friday's North American session.

DAX Jumps as Services PMIs Climb (05-Jan-2018    at   06:57:50 am)

The DAX has posted strong gains in the Thursday session. In North American trade, the index is at 13,185.50, up 1.57% on the day. The index is currently at a 2-week high. On the release front, German Final Services PMI improved to 55.8, matching the forecast. Eurozone Final Services PMI followed suit, climbing to 56.6, which edged above the estimate of 56.5 points. Friday will be busy, as the Germany releases retail sales, and the eurozone publishes CPI Flash Estimate.