MARKET BRIEFING – LONDON OPEN 04.04.2016

MARKET BRIEFING – LONDON OPEN 04.04.2016

Postby Atlas CapitalFx » Mon Apr 04, 2016 3:36 am

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MARKET BRIEFING – LONDON OPEN 04.04.2016







Last week ended with highly anticipated Jobs report from the United States. The data, consisting of the Average Hourly Earnings, Unemployment Rate, and Non-Farm Employment Change releases, gives a complete picture of the state of the United States employment market.

The Non-Farm Payroll release, representing a change in the number of employed people during the previous month apart from farming industry, has positively surprised investors with growth to 215.000 working places compared to 206.000 expected. The number has however declined in parallel with the March results of 245.000.

The next component of the Jobs report, presented to the markets by the Average Hourly Earnings, also did well as it showed an upturn of 0.3%. Keeping in mind that the previous month results were -0.1%, and market consensus expected just 0.2% number, this outcome was quite outstanding.

The Unemployment rate announcement, however, calmed down the excitement, revealing a rise to 5.0%, which was the first expansion since the June last year. That could probably explain that the US dollar stayed unaffected to usually such a significant release, with the US dollar index remaining to trade around 94.50 mark, being its five-month low.

Proceeding to this trading week, it began with the news from Australia. Here, the monthly building approvals number has indicated a significant rise to 3.1% from -6.6% of the March outcome. The retail sales dropped to from 0.3% to 0.0% this month. The AUDUSD nevertheless remained trading at its nine-month high.

Later on, at 9:30 am London time the UK monthly Construction PMI data will come into the spotlight. The indicator of the economic health of the construction industry, this time, is expected to increase slightly to 54.3, up from 54.2 of last time. The number higher than forecasted could likely give support to the weakening British Pound.







EURUSD

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The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.1455

Target 2: 1.1330

Projected range in ATR’s: 0.0084

Daily control level: 1.1330




GBPUSD


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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1.4365

Target 2: 1.4075

Projected range in ATR’s: 0.0146

Daily control level: 1.4425




USDJPY

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 112.50

Target 2: 110.65

Projected range in ATR’s: 0.95

Daily control level: 112.70





USDCHF


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The intraday technical outlook

Trend 1 hour: Down

Target 1: 0.9640

Target 2: 0.9495

Projected range in ATR’s: 0.0073

Daily control level: 0.9665




USDCAD


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The intraday technical outlook

Trend 1 hour: Up

Target 1: 1.3175

Target 2: 1.2890

Projected range in ATR’s: 0.0142

Daily control level: 1.2850




AUDUSD


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The intraday technical outlook

Trend 1 hour: Down

Target 1: 0.7760

Target 2: 0.7575

Projected range in ATR’s: 0.0092

Daily control level: 0.7725





GOLD

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 1252.00

Target 2: 1212.00

Projected range in ATR’s: 19.74

Daily control level: 1222.00





OIL

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The intraday technical outlook

Trend 1 hour: Down

Target 1: 38.00

Target 2: 35.00

Projected range in ATR’s: 1.44

Daily control level: 39.00







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Atlas CapitalFx
 
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