How to trade the nonfarm payroll report

As one of the key economic health indicators for the United States, the nonfarm payroll (NFP) is intended to represent the total number of paid workers in the U.S. excluding farm employees, government employees, private household employees and employees of nonprofit organisations. How does it impact the FX market? As...

EURAUD Facing bullish pressure | 2 July 2021

EURAUD Facing bullish pressure above ascending trendline support and also graphical overlap support where we have 38.2% Fibonacci retracement. A short-term intraday bounce above our entry at 1.58516 towards -27.2% Fibonacci retracement at 1.59000 could be possible. Technical indicators are showing room for further bullish momentum as well. Prices are...

Market Quick Take – July 2 2021

Diverging fortunes for US equities yesterday, as value stocks and the broader index posted a strong session, while tech and momentum names were sideways. Overnight, most markets traded sideways to slightly higher, with the notable exception of China, which suffered a very weak session. Today the market is anticipating the...

Delta variant to bring out the doves?

With lockdowns back on in Australia, as low vaccine penetration and the delta coronavirus variant present an unwelcome cocktail, will anything be changing in light of the RBA set to review changes to its bond program July 6.As the economy continued to track a “better than forecast trajectory we previously...

FXCM’s Top Down Gold Analysis

Peak and trough analysis on the monthly chart puts gold in a downtrend. The weekly chart is also at a key level when considering the triple moving average system. Moreover, it has an extremely strong inverse correlation with the USDOLLAR on the daily timeframe. Given this, the NFP print tomorrow...