Youtrading UK
Português Español русский
Register Login
  • Markets
  • Charts
  • Economic Calendar
  • World
  • Economy
  • Insights
  • About Us
No Result
View All Result
Youtrading UK
  • Markets
  • Charts
  • Economic Calendar
  • World
  • Economy
  • Insights
  • About Us
No Result
View All Result
Youtrading UK
No Result
View All Result

Midday Brief – Focus shifts to August US Jobs data report

by Joel Frank
2 September 2022
in Markets
0
As US jobs report endorses Fed tightening plans, what next for markets?
436
SHARES
14.6k
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

The markets were risk-on as investors priced in on a softer dollar ahead of US jobs data. Near-term bulls remain cautious as Fed tightening sentiments looms. Crude oil markets rallied as demand strengthens and traders pay close attention to the G7 meeting. Nord Stream pipeline set to resume operations offering market relief.

NZDUSD gained +0.19% in the European session as dollar softened. The green back lost some ground after hitting multi-year high ahead of US Nonfarm Payrolls. The jobs data is expected to print 300,000 for August vs a previous reading of 528,000.

This data could help determine the Fed’s rate decision for September as stronger figures may make the Fed more aggressive. The pair bounced off 0.6050 support and critical levels to watch out on the rally are 0.6100, 0.6120 and 0.6135. A break below 0.6000 could invalidated the bullish move.

EURJPY soared by +0.67% as positive German trade balance lifts the Euro. The German Trade balance rose to 5.4Billion vs 4.8Billion expected though it was less than previous at 6.2 Billion. The Spanish Unemployment Change surged to 62.1K from a previous 3.2K. The EUR was stronger against the Yen despite mixed data.

The markets are pricing in a 75BPS hike by the ECB adding to the 50BPS of previous meeting while the BoJ maintains an ultra-loose policy weakening the Yen against its major rivals. Above the 140.500 current resistance the pair could retest 141.00 and 141.50.

GBPCAD maintains a steady move amid rebounding oil prices though the CAD failed to capitalize on upbeat oil prices. The pair is trading at +0.03% with reports that UK companies have stepped up on recruitment. The country saw 2.08M job ads last week which is the highest on record.

Canada’s GDP on Wednesday dropped to 3.3% in Q2 and building permits on Thursday fell to -6.6% broadly pinning down the CAD. Traders shift their focus to CAD’s Labour Productivity [QoQ] Q2. The pair is currently trading a few pips above 1.5200 after establishing a low at 1.51800. Further up bulls may reclaim 1.52500 and 1.52800.

European stocks were trading in a mixed manner mid-European session as Nord Stream is said to resume on Saturday. FTSE100 was up +0.12% with an intraday low residing at 7150. Upside move is capped by 7260. CAC 40 declined by -0.37% ranging between 6090 and 6040. The index may face a rejection at 6150 on a continued rally while bears may reclaim 6000. DAX is steady with gains of +0.08% and bullish cap at 12880.

US stock futures were trading flat ahead of US jobs data release in the New York session. The DJIA index futures were trading at +0.02% with bullish moves being capped by 31700 support-turned-resistance. The S&P500 futures were down -0.01% in a range between 3950 and 3970. Bulls may seek the 4000 and 4050 levels. US 100 futures declined by -0.09% though still trading above 12000. Targets may be set at 12800 on the bullish run. 

Crude oil prices are trading in positive territory as the G7 is set to meet today to further discuss the price cap on Russian oil. The black liquid rebounded after a 3-day losing streak over demand concerns and global growth concerns. The USWTI rose +1.94% after establishing a low at $86.20/b. The bullish move is currently capped by $90.00/b which coincides with the 20Day SMA. A further decline may give bears $85.00. Brent appreciated by +1.75% from $92 a further rise is capped by $98.

Tags: Crude oilEURJPYGBPCADNZDUSDStocksUS Jobs Data
Previous Post

Technical Pattern Explained: How to Identify Bearish Flags

Next Post

Market Wrap – Payrolls Beat Market Expectations

Next Post
December Non-farm Payrolls Preview

Market Wrap - Payrolls Beat Market Expectations

CALL US

Categories
  • Commodities
  • Economy
  • Forex
  • Index
  • Insights
  • Markets
  • Opening of the Week
  • Sem categoria
  • Stocks
  • World

Site Map

  • Home
  • Markets
  • Charts
  • Economic Calendar
  • World
  • Economy
  • Insights
  • About Us
Português Español русский

A comprehensive website for traders, both experienced and new! Checkout our content and learn how to invest and speculate in the markets using margin traded products. Our team of educators has extensive experience and is here to help. Enjoy!

Follow us on social media

Risk Warning

All financial products traded on margin carry a high degree of risk to your capital. They are not suited to all investors, please ensure that you fully understand the risks involved, and seek independent advice if necessary.

All Rights Reserved - YouTrading UK 2020

Privacy Policy and Terms and Conditions
  • Home
  • My Academy
    • Register Now
    • Login
  • Markets
    • Opening of the Week
    • Stocks
    • Commodities
    • Forex
    • Index
  • Charts
  • Economic Calendar
  • Economy
  • World
  • Insights
  • About Us
No Result
View All Result

© 2020 YouTrading UK - Leaders in Trader Training.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
__cfduid1 monthThe cookie is used by cdn services like CloudFare to identify individual clients behind a shared IP address and apply security settings on a per-client basis. It does not correspond to any user ID in the web application and does not store any personally identifiable information.
_wpfuuid11 yearsThis cookie is used by the WPForms WordPress plugin. The cookie is used to allows the paid version of the plugin to connect entries by the same user and is used for some additional features like the Form Abandonment addon.
cf_use_obThis cookie is set by the provider Cloudflare content delivery network. This cookie is used for determining whether it should continue serving "Always Online" until the cookie expires.
cookielawinfo-checbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-advertisement1 yearThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Advertisement".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
CookieDurationDescription
YSCsessionThis cookies is set by Youtube and is used to track the views of embedded videos.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
CookieDurationDescription
_ga2 yearsThis cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors.
_gid1 dayThis cookie is installed by Google Analytics. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
CookieDurationDescription
_fbp3 monthsThis cookie is set by Facebook to deliver advertisement when they are on Facebook or a digital platform powered by Facebook advertising after visiting this website.
fr3 monthsThe cookie is set by Facebook to show relevant advertisments to the users and measure and improve the advertisements. The cookie also tracks the behavior of the user across the web on sites that have Facebook pixel or Facebook social plugin.
IDE1 year 24 daysUsed by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. This is used to present users with ads that are relevant to them according to the user profile.
test_cookie15 minutesThis cookie is set by doubleclick.net. The purpose of the cookie is to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE5 months 27 daysThis cookie is set by Youtube. Used to track the information of the embedded YouTube videos on a website.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
CookieDurationDescription
_gat_UA-42160853-21 minuteNo description
cf_ob_infoNo description
CONSENT16 years 8 months 3 days 6 hours 2 minutesNo description
SAVE & ACCEPT
Powered by CookieYes Logo