A snapshot view of yesterday’s New York - London session with technical notes.
USD: ADP Non-Farm employment change fell short at 179k vs +217k expected; Trade balance was also down to a 15-month low; Revised non-farm productivity q/q came in well above expectations at +3.2%, a multi-year low, with ISM Manufacturing at a 9-month high to see USD hold onto last week's gains.
CAD: Trade Balance at a 5-month low
EUR: Final Services PMI slightly lower at 53.2 vs 53.5
GBP: PMI Services slightly higher at 58.6 vs 58.3 which saw GBPUSD hold above May's low
Forex:
DXY Remains near the April highs; Strong action from ECN should see USD breakout from resistance; Indecision should see 80.65 resistance hold
AUD/USD: 0.932 resistance continues to hold (Monthly Pivot, 50eMA and historical S/R) but needs to break below 0.920 to confirm bearish move
EUR/USD: Back near the 1.3585 support level and continues to range within 65-pips; All eyes on the ECB tonight so expect quiet trading today
GBP/USD: Reached our 1.67 target yesterday but quickly reversed to close back in range and a Doji; Bias remains bearish below 1.678
USD/CAD: Broken through 1.094 resistance and bias remains bullish leading up to Friday’s NFP and CAD employment data
USD/CHF: Bullish Inside day but capped by 0.8985 resistance
USD/JPY: Approaching resistance zone between 102.72-103; Bias is for a retracement towards 102.50
NZD/USD Spinning Top Doji warns of weakness to bearish move with support at 0.8392 and resistance at 0.84354
Indice:
US Equities produced Hanging Man Reversal but closed near their highs awaiting further direction from tonight's news
FTSE 100 edged lower towards 6800 support, saw an intraday spike through but closed at 6806
GER30 and DJ Euro Stoxx 50 produced Bullish Piercing lines to suggest interim swing low
Commodites:
Gold low volatility and remains within a potential bottom / bearish continuation pattern awaiting direction
Silver Potential bearish flag forming; bias remains bearish below $19
WTI Shooting Star warns of continued weakness but holding above Monthly Pivot
Brent Bearish outside day broke above Monthly Pivot but closed at the lows of the day below the pivot; Near-term bias remains bearish