August 3rd, 2018: Markets Eye Payrolls
August 3, 2018 9:11 amVideo
Latest News
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
- Video market update for April 18, 2024 April 18, 2024
- Technical Analysis – WTI oil futures exit sideways move to the downside April 18, 2024
- Market Comment – US dollar on the back foot as nervousness lingers in equity markets April 18, 2024
- Hot forecast for EUR/USD on April 18, 2024 April 18, 2024
- EUR/USD and GBP/USD: Technical analysis on April 18 April 18, 2024
- Trading plan for GBP/USD on April 18. Simple tips for beginners April 18, 2024
- Trading plan for EUR/USD on April 18. Simple tips for beginners April 18, 2024
- The Fed and global instability: a double blow to American markets April 18, 2024
- Forecast for EUR/USD on April 18, 2024 April 18, 2024
- Forecast for GBP/USD on April 18, 2024 April 18, 2024
- Forecast for AUD/USD on April 18, 2024 April 18, 2024
- Outlook for GBP/USD on April 18. Pound was not impressed by the inflation data April 18, 2024
- Outlook for EUR/USD on April 18. Euro has fallen into a new flat April 18, 2024
- GBP/USD. Correction or trend reversal? April 18, 2024
- The FOMC will not lower rates in 2024 April 18, 2024
Morning Report: 07.00 London
Following a day of frantic activity, markets are calm as they await today’s main ticket – Non Farm Payrolls. The US dollar index has a slight positive bias after significant gains made yesterday.
The GBP/USD is unchanged so far after the Bank of England raised rates as expected, but expressed enough caution to keep a lid on market expectations. The 1.3000 support levels are holding for now – just. The EUR/GBP experienced volatility, ultimately ending higher as the euro also came under pressure throughout the day. The GBP/JPY also felt the pressure, closing at its lowest levels since June.
Other dollar pairs are mixed, with the AUD/USD making small gains following yesterday’s selling, while the EUR/USD is coming in for some follow on selling.
The USD/CHF is making further gains as markets leave the Swiss franc for the safety of the dollar.
The yen pairs are mixed, with the AUD/JPY and USD/JPY making small gains while the EUR/JPY and GBP/JPY are on the back foot.
Gold remains under pressure as demand for the dollar trumps any safe haven interest.
Coming up today
UK services PMI are at 09.30.
US Non Farm Payrolls are at 13.30, released with the unemployment rate and average hourly earnings.
Canadian trade balance is released at the same time.
US ISM non-manufacturing PMI is at 15.00.
Trade Idea
Gold continues to struggle in the face of the strong US dollar, making bearish bets attractive. The next significant support level is around $1180, making this an attractive target for a bet.
A ONE TOUCH trade predicting that gold will touch $1180 within the next 28 days could return 124% if successful.
Related Posts: