DAILY MARKET OUTLOOK on Major
Update Time: 10 Sept 2019 09:20GMT
USD/JPY - 107.28
Although dollar has retreated after intra-day break above last Thursday's 5-week peak at 107.22 to 107.49 in Asia on rising U.S. Treasury yields and minor consolidation would be seen, as said move signals upmove from August's 33-month trough at 104.46 has resumed, upside bias is retained for another rise to 107.82 before prospect of a correction due to loss of momentum.
On the downside, only below 107.06 would indicate a temporary top has been made and risk stronger retracement to 106.95/96 later.
Data to be released on Wednesday:
France non-farm payrolls, industrial output, Italy industrial output, UK claimant count, ILO unemployment rate, employment change, average weekly earnings.
Canada housing starts, building permits and U.S. redbook, JOLTS job opening.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.