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U.S. labour market steady, Fed on hold

al_dcdemo Updated 6 May  in #Trader's blog #USD/JPY #Us Jobs Report #D1 Chart #Low Participation #Reserve Currency #Global Central Bank
The impact of the U.S. jobs and wages report for April was rather small this time around. This could be to some extent due to lower participation in this holiday-heavy week but I think the main reason is that U.S. data doesn't seem to play the biggest role in the Fed's policy at the moment.
Due to status of the U.S dollar as the number one reserve currency, the Fed is in many ways a global central bank and must act accordingly. The bank is in no hurry with rate hikes and I think they'll stay sid…
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Yen continues south

al_dcdemo Updated 4 Sep.  in #Trader's blog #USD/JPY #Downtrend #Bearish Bias #H1 Chart #Us Jobs Report #Stock Markets
After failing to hold 120 overnight, Yen turned lower and fell more than a cent before pulling back a bit. Second wave of selling sent it down to 118.85 so far. Stock market declines are being cited as the main driver, albeit likely mixed with some positioning ahead of the US jobs report.
Technically, the pair has been in a downtrend since August 24th rout. In my view, 120 - 122 is neutral zone. If the pair wants to re-establish bullish bias it has to break and hold above that zone. On the flips…
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EURo steady ahead of the ECB

al_dcdemo Updated 3 Sep.  in #Trader's blog #Ecb #Support #Resistance #EUR/USD #H1 Chart #Us Jobs Report
Today is the ECB day and they are expected to be dovish. If that materializes the pair will fall, if not it will rally. Since there's US monthly jobs report scheduled for tomorrow, the excursions to the either side may be limited, save for any big surprises.
Euro is trading near the middle of the recent 1.08 - 1.17 range, defined by the July low and the August high. It is also in the lower half of the six-month upward sloping trading channel (currently 1.0925 - 1.1750).
Support: 1.1150 - 1.1155 …
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USD/JPY awaits NFP

al_dcdemo Updated 2 July  in #Trader's blog #USD/JPY #Independence Day #50 Dma #Previous Week High #H1 Chart #Us Jobs Report #Previous Week Low
It feels a bit odd to have the monthly US jobs report released on Thursday, but due to the Independence Day observance (Bank Holiday) tomorrow, it had to be moved. As is usual, the headline Non-Farm Employment Change will be the one that the market will move on initially and after better than expected ADP Non-Farm Employment Change yesterday (237K vs. 219K expected and 203K previous) the odds are that we'll get strong number today too.
USD/JPY stalled ahead of the Weekly Pivot Point (123.60) tod…
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