FROM: PETER CRUZ DATE: 2nd Aug.,, 2013 – Fri. Market Brief EUR/USD looks set to continue its downward trend during the Asian session, but whether this continues throughout the global day is now all down to tonight’s employment data. There are whispers that the number might be better than expected. The dollar rose against its rivals Thursday, as a spate of better-than-expected economic numbers showed that the recovery in the US remains firmly on track. Labour Department data showed the number of US workers seeking unemployment benefits fell to a five-tear low last week. Meanwhile, a separate report said manufacturing activity gathered steam in July, with factory employment expanding at its fastest pace in 13 months. Investors have been watching for signs the economic rebound has gained enough strength for the Federal Reserve to begin tapering its $85 billion monthly bond-buying program, a policy that increases the number of dollars in circulation and lowers yields on dollar-denominated assets, weighing on the currency’s value. Coming ahead of Friday’s non-farm payrolls number—a closely watched indicator of the economy’s health—the data bolstered the view that the Fed could begin winding down its economic stimulus as early as September, an encouraging sign for dollar bulls. On the data slate there’s Switzerland SVME- Purchasing Managers Index; US Personal Income; US Change in Private Payrolls; US Personal Spending; US Unemployment Rate; US Change in Non-Farm Payrolls; US Personal Consumption Expenditure Core and US Factory Orders. SELL EUR @ 1.3220 OR BETTER – STOP @ 1.3300 – TARGET @ 1.3115 SELL GBP @ 1.5120 OR BETTER – STOP @1.5200 – TARGET @ 1.5030 BUY USD/JPY @ 99.35 OR BETTER – STOP @ 98.75 – TARGET @ 100.50 SELL CL0913 @ 107.80 OR BETTER – STOP @ 108.55 - TARGET @ 103.60 SELL XAU @ 1308 OR BETTER – STOP @ 1320 – TARGET @ 1285 SELL XAG @ 19.60 OR BETTER – STOP @ 19.85 – TARGET @ 18.80 GOOD LUCK AND HAPPY TRADING PLS. NOTE: 1. ALWAYS REMEMBER TO PUT STOPS WHENEVER YOU TRADE, MARKETS ARE VERY VOLATILE. 2. THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS AND IT IS NOT FOR EVERYONE.
Posted on: Fri, 02 Aug 2013 00:25:14 +0000
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