MARKET BRIEFING – LONDON OPEN 04.03.2016

MARKET BRIEFING – LONDON OPEN 04.03.2016

Postby Atlas CapitalFx » Fri Mar 04, 2016 7:28 am

MORE ON ACFXblog.com







MARKET BRIEFING – LONDON OPEN 04.03.2016



This afternoon at 1:30 pm London time the Bureau of Labour and Statistics publishes its latest monthly Non-Farm Employment Change data.

This publication is part of the Jobs Report that also includes the Average Hourly Earnings and Unemployment Rate releases.

The NFP report gives investors’ information on the number of new employees hired during the prior month.

Market participants monitor all the components that make up the Jobs Report. However, the NFP does tend to have an overbearing impact on the market and can cause large amounts of volatility in all liquid asset classes and the forex market.

The NFP, Average Hourly Earnings and Unemployment Rate reports are published very early after the end of the prior month. Therefore, they can give traders and investors an early warning of economic changes. As such, the Jobs Report is a valuable tool for helping one to decide if new risk should be taken or if current exposure management should be modified.

Jobs related data such as the NFP is important because it is a barometer of the conditions of the United States economy and is also a leading indicator of possible changes to consumer spending.

The market consensus expects to see 195.000 new vacancies to have been filled in February. Today’s forecast if realized would be an increase from the previous 151.000 places that were reported in the prior months release.

The overall trend of the data continues to be positive, however, it is important to consider the NFP data together with the effect on wage levels, released at the same time. The Average Hourly Earnings data, this time, is expected to drop to 0.2%, down from 0.5% of the previous release.

The Federal Reserve would welcome a rise in the level of wages as this will mean that the low-interest rate policy could be relaxed further over the coming year.

Should the NFP actual announcement exceed, the market estimates the US Dollar price would usually strengthen against its major pairs.

High volatility around the time of the Jobs Data releases should be anticipated.









EURUSD

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.1035

Target 2: 1.0850

Projected range in ATR’s: 0.0082

Daily control level: 1.0820




GBPUSD

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.4325

Target 2: 1.4015

Projected range in ATR’s: 0.0155

Daily control level: 1.4030



USDJPY

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 114.80

Target 2: 112.40

Projected range in ATR’s: 1.22

Daily control level: 113.15




USDCHF

Image

The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.0000

Target 2: 0.9840

Projected range in ATR’s: 0.0079

Daily control level: 0.9980




USDCAD

Image

The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.3540

Target 2: 1.3270

Projected range in ATR’s: 0.0135

Daily control level: 1.3475



AUDUSD

Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 0.7440

Target 2: 0.7265

Projected range in ATR’s: 0.0087

Daily control level: 0.7115





GOLD


Image

The intraday technical outlook

Trend 1 hour: Up

Target 1: 1287.00

Target 2: 1240.00

Projected range in ATR’s: 23.64

Daily control level: 1224.45



OIL

Image


The intraday technical outlook

Trend 1 hour: Up

Target 1: 36.50

Target 2: 32.80

Projected range in ATR’s: 1.86

Daily control level: 33.10







MORE ON ACFXblog.com
Atlas CapitalFx
 
Posts: 678
Joined: Mon Dec 17, 2012 7:53 am

Return to Daily market technical Analysis And outlook By ACFX.com



cron