Frank Walbaum
FX Strategies.Asia
Important news for the day
- Fri, 10th, 14:30 CET US Nonfarm payrolls / average hourly earnings.
- Fri, 10th, 14:30 CET CA Unemployment rate / employment change.
NFP day
Today traders will focus on the NFP data moving forward. Open trades should be protected with stop losses as markets might offer erratic moves. Especially the still thin trading trading conditions might offer bigger moves as liquidity remains limited. Worth noting that XAU and XAG prices show further upside potential as recent support levels look solid Especially Gold might benefit from a potential weakness in the Dollar.On the flipside it seems that crypto markets might offer some downside momentum. Profit taking could be a reason why traders reduce their holdings, leading to sideways prices action and potential more downside opportunities.
Market talk
The biggest news event for the week will follow today with the release of the Nonfarm payrolls data. The ADP data on wednesday had shown a clear miss of the expected figure, yet does not qualify much as a preview. As the US economy still shows resilience to a major correction the figures might not move markets a lot. However, a potential negative figure might act as a catalyst to cause fresh weakness in the Dollar. Whether this will then be used for fresh entry opportunities to get into the Dollar might still be seen. Before the news the Dollar keeps trading in a sideways pattern on an intraday basis.
Tendencies in the markets
- Equities weak, USD strong (NFP news!), cryptos weaker, oil weaker, Silver positive, Gold positive, JPY weak.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This Webinar is purely for information purposes. Transactions or orders are for illustrative purposes only and should not be copied by traders. The content has been carefully compiled. However, no liability can be accepted by FX Strategies. Asia and under no circumstances should this material replace a consultation with a certified financial, investment or investment advisor in terms of their accuracy. Further information on our risk warnings can be found on our website under fxstrategies.asia.
Recommended Content
Editors’ Picks
AUD/USD keeps range below 0.6300 despite renewed China optimism
AUD/USD stays sidelined below the 0.6300 mark in the Asian session on Thursday amid uncertainty over US President Donald Trump's tariff plans. The Aussie shrugs off a risk-rally in Chinese stocks on fresh support measures as the US Dollar holds ground ahead of top-tier US data releases.
USD/JPY bounces to near 155.50 amid upbeat mood
USD/JPY holds the bounces to near 155.50 in the Asian session on Thursday, helped by an upbeat mood. The pair reverses an early dip-led by the better-than-expected Japanese Trade Balance data. Further upside could be capped amid prospects for an imminent BoJ rate hike on Friday.
Gold buyers pause but refuse to give up yet
Gold price consolidates its three-day bullish momentum early Thursday, having reached three-month highs of $2,763 on Wednesday. Gold buyers take a breather as attention turns toward US fundamentals, with the weekly Jobless Claims on tap.
Crypto Today: BTC, Solana, XRP mount $3.5T support as Ross Ulbricht and Tornado Cash rulings spark optimism
The global crypto market capitalization fell 1.7% to hit $3.5 trillion on Wednesday. Bitcoin, Solana and XRP held firm above their respective critical support levels at $103,000, $3 and $250.
Netflix posts record quarter, as Trump talks tariffs on China
There has been a positive tone to risk this week, as the market digests Trump 2.0. However, Trump is not the only show in town. Earnings reports are also a key driver of stock indices, and the news is good.
Trusted Broker Reviews for Smarter Trading
VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.