Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Join the Facebook community of FBS!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Email tooltip

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE

View
Risk-on is back

Risk-on is back

Information is not investment advice

The focus of traders’ attention shifted from concerns about the virus resurgence to hopes for a US stimulus package. As a result, the market sentiment improved, driving riskier currencies and stocks to the upside.

Fundamentals

  • Treasury Secretary Steven Mnuchin proposed to House Speaker Nancy Pelosi to unveil the Covid-19 stimulus package of $916 billion.
  • US regulators gave an early hint that they are going to approve Pfizer’s vaccine. The US FDA will announce the final decision on Thursday. If it gives the green light, Pfizer will start the vaccine distribution in 24 hours. This optimistic news encouraged investors, that’s why the S&P 500 hit the record high of $3 700.
  • As for the Brexit front, no progress has been made so far in negotiations of the EU and the UK. Anyway, GBP/USD is edging higher amid the upbeat sentiment on the market.
  • Japan’s machinery orders showed the highest increase in over a decade.
  • Chinese consumer prices dropped for the first time since 2009.

Technical tips

EUR/USD

The most traded pair is heading to Monday’s high of 1.2155. If it manages to cross it, the way up to the high of December 4 at 1.2180 will be clear. According to UOB Group, the move above 1.2200 is likely as long as it trades above 1.2040. Support levels are at the 1.2100-1.2095 area and 1.2050.

EURUSDH1.png

GOLD

Gold has pulled back from the resistance of $1 875. Now it is trading sideways at the 50% Fibonacci retracement level of $1 865. If it manages to close above the $1 875 level, the doors will be open towards the 61.8% Fibo level of $1 890. On the flip side, if it drops below the 100-period moving average of $1 840, it may fall to the next support of $1 825.

XAUUSDH4.png

AUD/USD

The aussie is rallying higher amid the overall risk-on market sentiment. It has approached the key resistance of 0.7450, which it has failed to cross a few times so far this month. The breakout will drive AUD/USD higher to the round number of 0.7500. There is strong support at the 50-period moving of 0.7400, which will be hard to cross for the pair. The next support will be at 0.7350.

AUDUSDH4.png

S&P 500

The S&P 500 has reached an all-time high of 3 700. The way up is clear for further fresh highs. The next resistance may be at 3 750. The 50-period moving average has been nicely supporting the stock index so far. That’s why we can assume that it may stop the S&P from falling below 3 670. The next support levels are 3 645 and 3600. To trade the S&P 500 with FBS, you need the S&P 500-20Z.

S&P500H4.png

Follow the rate decision of the Bank of Canada at 18:00 MT time.

LOG IN

Similar

The USD Awaits Key Jobs Data

The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.

Popular

The USD Awaits Key Jobs Data

The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.

Choose your payment system

Learn more

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later