CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

Non farm payrolls Friday

Article By: ,  Financial Analyst
August 2, 2013 9:52 AM

Yesterday we ended up with USD strength after the awaited ECB and BoE statements, with nothing unexpected happening and more in the words of forward guidance. This, mixed with more strong US data (a fall in unemployment data and a rise in ISM manufacturing) has given USD the edge.

Overnight we saw tight ranges, with Australian PPI coming out weaker than expected and the Australia budget deficit blowing out to $30bn, keeping AUD weak.

Today is all about the non-farm payrolls, which are expected at 184k as compared to the previous 195k. More strong data could be seen here to continue, with ADP being stronger than expected last Wednesday. But expect the market to react in a very volatile way until it decides on how the data will affect the Fed and its thinking.  Factory orders also due out better than previous; expected at 2.3%. Then later tonight FOMC member Bullard will be speaking. The market will be listening for comments on the non-farm payrolls and how the Fed will be approaching tapering and whether it will start in September.

 


EUR/USD

Supports 1.3200-1.3165-1.3100 | Resistance 1.3230-1.3265-1.3345


USD/JPY

Supports 99.30-98.80 98.50  | Resistance 99.75-100.20-100.45


GBP/USD

Supports 1.5100-1.5075-1.5025 | Resistance 1.5145-1.5175-1.5225

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024