Most significant on today’s calendar will be the US publication of its Non-Farm Payrolls (NFP) data. Should today’s news foreshadow a modest growth in the largest economy’s employment sector, an assessment that seems less likely from data...
Despite the pressure on the majors and relative shift towards risk aversion, the Aussie is being resilient with only a slight consolidation in its current rally.
If a material base might be in place for a possible long term reversal, we haven’t seen yet a real confirmation of the bullish bounce started in July.
After a new fresh high at 0,8250 in the beginning of the week, the pair is showing signs of weakness by breaking back below the key 0,80 level.
The pair continues to trade flat just above its historical low (76,00). A material might be in place but we now need to see a break above 78,00 to confirm a bullish reversal.
Following the Euro decline, the Cable is also under pressure and we might see additional losses going forward.
The pair is now under pressure after a new fail to establish above 1,45. Daily studies are pointing to further losses over the coming sessions.
The Swiss Franc, the Yen and the US dollar remained supported.
Economic news this week has pushed traders into a position of market pessimism. Little news has emerged which put a dent in the amount of pessimism surrounding the forex market, traders are now eyeing Friday’s NFP report...
The USD/CAD pair fell on Wednesday, but managed to bounce in the later hours. Because of this, we formed a hammer on the daily chart, just below the 0.9800 handle. The trend is down, and oil looks...
