Frank Walbaum
FX Strategies.Asia
Important News for the day
- Fri, 06th, 14:30 CET US Nonfarm Payrolls.
- Fri, 06th, 14:30 CET CA Unemployment rate.
Nonfarm Payrolls
The Dollar is heading with negative sentiment into the NFP- news today. A further slide in the Greenback might be expected, should the figure be weaker than expected. The recent month showed a 12k increase in new jobs and the expectation with 218k newly created jobs seems quite high. The EUR and GBP have both showed strong positive momentum and recent support levels in both currency pairs might hold throughout the weekend, which highly depends on the NFP data.
Market talk
General market sentiment seems rather sideways without major momentum for now. Yet, the equity market seems to favour a potential retracement to lower levels. Bitcoin keeps heading lower and also XRP is losing steam, while Solana might be ready to break the current technical resistance pattern. Also Silver is looking positive. The market is about to break the current technical resistance zone based on the daily chart. The 50- MA has been broken already to the upside. Vice versa oil prices look weak. The market might be ready to head lower based on long- term charts.
Tendencies in the markets
- Equities sideways, USD weaker, cryptos correcting, oil weak, Silver positive, Gold sideways, JPY weaker.
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 holds gains near 0.6250 but upside appears limited
AUD/USD remains on the front-foot near 0.6250 following the previous day's good two-way price swings amid confusion over Trump's tariff plans. The Aussie, meanwhile, remain close to over a two-year low touched last week in the wake of the RBA's dovish shift, China's economic woes and US-China trade war fears.
USD/JPY: Bulls retain control above 158.00, Japanese intervention risks loom
USD/JPY is off multi-month top but stays firm above 158.00 in the Asian session on Tuesday. Doubts over the timing when the BoJ will hike rates again and a broad-based US Dollar rebound, following Monday's Trump tariffs speculation-led sell-off, keep the pair supported ahead of US jobs data.
Gold traders appear non-committal ahead of US jobs data
Gold price is battling the short-term critical barrier at around $2,635 early Tuesday, consolidating the two-day corrective decline from three-week highs of $2,665. Gold traders refrain from placing fresh directional bets ahead of the top-tier US ISM Services PMI and JOLTS Job Openings data.
Ripple's XRP eyes rally to new all-time high after 40% spike in open interest
Ripple's XRP trades near $2.40, up 1% on Monday following a 40% surge in its futures open interest. The surge could help the remittance-based token overcome the key resistance of a bullish pennant pattern.
Five fundamentals for the week: Nonfarm Payrolls to keep traders on edge in first full week of 2025 Premium
Did the US economy enjoy a strong finish to 2024? That is the question in the first full week of trading in 2025. The all-important NFP stand out, but a look at the Federal Reserve and the Chinese economy is also of interest.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.