U.S. Dollar Trading (USD)
The December nonfarm payroll gained +155k and the Unemployment Rate remained at 7.8% in figures released Friday. Stock markets climbed into the weekend and this inspired some USD selling with Gold particularly volatile. The FOMC minutes change of tune towards further QE sparked a sharp USD rally last week which will likely be tested in January. Looking ahead, no data tonight.The Euro (EUR)
The bears tested the EUR/USD
to test the 1.3000 psychological support which held and when US stocks rallied post NFP we saw a modest bounce back to 1.3080 in the major. Plenty of support is coming through the EUR/JPY
cross which is getting bought aggressively on dips due to the BOJ outlook. The Sterling (GBP)
The pound underperformed the euro with the EUR/GBP
grinding higher but the general theme was the same with selling early in the day and a relief rally late in the US session. The outlook for 2013 will be greatly affected by the new BOE Governor Carney from Canada and whether the market is ready to test the US Fed on its monetary policy outlook. Looking ahead, December Halifax House Price forecast at 0 vs. 1 previously.The Japanese Yen (JPY) USD/JPY
topped out at Y88.40 before falling sharply at the nonfarm payrolls number which disappointed a much higher rumor number. The fall proved short-lived with support at Y87.60 lifting the pair back above Y88 into the close. The recent rally is overbought but the trend is strong and still in play. Australian Dollar (AUD)
The aussie received lots of support on Friday gaining across the board on the back of strong global stock markets. Resistance was found at 1.0480 but buying has resumed in Asia this morning and we have broken above 1.0500. Commodities have rebounded spectacularly in recent months with Iron Ore up over 70% since the 2012 lows.Oil And Gold (XAU)
Gold traded in a wild range down to fresh trend lows under $1630 before rebounding after the US Jobs Data back above $1650. Oil traded back towards $93 resistance as "risk on" trading conditions remained.Pairs To WatchEUR/USD
: 1.3000 to remain key?USD/JPY
: Trend to continue? Y90 Target?TECHNICAL COMMENTARY
Disclaimer: The information and data entailed in this website or otherwise made accessible to you on this website are provided to Easy-Forex™ by a third party provider. Such information and/or data are made accessible for informative purposes only and they can under no circumstances be considered as a recommendation to you by Easy-Forex™ or any Easy-Forex™ personnel to engage in any trade. Hence, neither Easy-Forex™ nor any of its personnel can under any circumstances be held responsible for any outcome of trading decisions or trades in regard to any of such information and/or data. You hereby acknowledge that accessing and reviewing any of such information and/or data and/or using any of the information entailed in this website or otherwise made accessible to you on this website is your sole responsibility and at your own risk and you will have no claims with regards to any such information and/or data against Easy-Forex™ or any of its personnel. If you are unable to agree to this, you should not access and/or make use of any such information and/or data. Easy-Forex™ endorses responsible and moderate trading. Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone and we would like to recommend you not to risk any money, you cannot afford to lose. The transaction of such financial instruments known as Forex, fx, or currency, and dealt on a valued basis known as 'spot' or 'forward', 'day trading' and 'option', can contain a substantial degree of risk. Before deciding to undertake such transactions with Easy-Forex™, and indeed, any other firm offering similar services, a user should carefully evaluate whether his/her financial situation is appropriate for such transactions. Trading foreign exchange may result in a substantial or complete loss of funds and therefore should only be undertaken with risk capital. The definition of risk capital is funds that are not necessary to the survival or well being of the user. Easy-Forex™ strongly recommends that a user, who is considering trading foreign exchange products, read through all the main topics contained in the Easy-Forex™ website so that he/she may obtain a clear and accurate understanding of the risks inherent to ‘forex’ trading. Opinions and analysis on potential expected market movements contained within the Easy-Forex™ website are not to be considered necessarily precise or timely, and due to the public nature of the Internet, Easy-Forex™ cannot at any time guarantee the accuracy of such information. Information provided on this website is intended solely for informational purposes and is obtained from sources believed to be reliable and accurate. Information is in no way guaranteed. Easy-Forex™ and the Easy-Forex™ logo are trademarks and/or registered trademarks of Easy-Forex™ in the United States and/or other countries.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.