fxsoriginal   DAILY MARKET OUTLOOK on Major

Update Time: 08 Nov 2019 09:30GMT

USD/JPY - 109.28
Dollar's firm break of October's high at 109.28 to a 5-month top at 109.48 (New York) yesterday on rising U.S. yields signals upmove from August's 33-month trough at 104.46 has resumed and gain towards 109.93 would be seen after consolidation but 110.00 should hold due to loss of upward momentum.

On the downside, only below 108.83 suggests temporary top has been made and risks weakness to 108.66, break, 108.32.

Data to be released on Friday :
Swiss unemployment rate, Germany exports, imports, trade balance, current account, France current account, industrial output, non-farm payrolls, trade balance, imports, exports.
Canada housing starts, building permits, employment change, unemployment rate, and U.S. University of Michigan sentiment, wholesale inventories, wholesale sales.

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.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex Analysis

Editors’ Picks

EUR/USD pressured around 1.13 after jump in US jobs

EUR/USD is trading around 1.13, down after US Non-Farm Payrolls shocked with a leap of 2.5 million jobs in May, contrary to all projections. The greenback is gaining while stocks are falling, a correlation breakdown. ECB stimulus previously supported the euro.

EUR/USD News

GBP/USD retreats from highs

GBP/USD is trading below 1.27, off the highs. The pound is struggling after Chief EU Negotiator Barnier reported little progress in Brexit talks. Robust US jobs support the dollar.

GBP/USD News

Gold sees weekly closing below $1700 - a caution for bulls

The steady decline in Gold prices (futures on Comex) accelerated on Friday, as the rates closed the week below the 1700 mark for the first time in three weeks at 1688.35. A weekly closing below the key 1700 level is unlikely to bode well for the bulls.

Gold News

Institutional demand exceeds Bitcoins supply

Greyscale floods the market with fresh money to satisfy the demand of its clients. Investors, willing to pay a 29% surcharge for exposure to Bitcoin without suffering the legal and operational inconveniences. Market remains at risk on the verge of new bullish territory.

Read more

WTI rallies above $39 as focus shifts to OPEC+ meeting

Crude oil prices built on Thursday's modest gains and rose sharply on Friday boosted by the upbeat market mood optimism surrounding Saturday's OPEC+ meeting. 

Oil News

Forex Majors

Cryptocurrencies

Signatures