I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
US Dollar steady ahead of payrolls later today
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
XAU/USD: Gold facing an appreciation before key NFP number that will show the strength of US economic recovery. Gold stands at 23.6% retracement area.
US Market View
Economic optimism can be premature. Throughout the summer and fall it appeared that the US was on its way. More than half the lockdown job losses had been replaced by October, jobless claims had halved from July and pandemic cases were down everywhere in the country. Viral cases were soaring. California closed its economy. Payrolls had collapsed into losses in December and unemployment claims had climbed more than 200,000 by the first week of January. Nonfarm Payrolls are forecast to add 639,000 jobs in March, the highest total since last October. The unemployment rate is expected to fall to 6% from 6.2% in February. Average Hourly Earnings are predicted to gain 0.2% on the month and 4.5% on the year. Average Weekly Hours should rise 0.1 to 34.7.
U.S. President Joe Biden's massive infrastructure proposal and the upcoming corporate earnings season could offer investors fresh insight on the sustainability of a rally that has taken stocks to all-time highs.
The S&P500 scaled 4,000 for the first time on Thursday and closed up 1.18% at 4,019.87, extending the benchmark index's gain to nearly 80% from lows in March 2020. The rally has been driven by unprecedented U.S. stimulus measures and expectations that widespread vaccinations against COVID-19 will spur an economic rebound.
USA Key Point
- USD/CAD moves sideways around 1.2550 despite surging crude oil prices.
- AUD/USD treads water above 0.7600.
- Cable at crossroads, Nonfarm Payrolls serve as make-or-break moment.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus