{"id":9551,"date":"2021-06-03T09:10:00","date_gmt":"2021-06-03T08:10:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=9551"},"modified":"2021-06-03T20:57:04","modified_gmt":"2021-06-03T19:57:04","slug":"stronger-us-dollar-ahead-of-employment-data-is-applying-pressure-to-the-yuan","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/stronger-us-dollar-ahead-of-employment-data-is-applying-pressure-to-the-yuan\/","title":{"rendered":"Stronger US dollar ahead of employment data is applying pressure to the Yuan"},"content":{"rendered":"\t\t
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Morning Brief<\/strong><\/p>

At the London session open the US dollar is finding strength against the rest of the G7 currencies. The DXY<\/a> has traded back up to the weeks opening price ahead of the US ADP Employment figures and Initial Jobless Claims.<\/p>

Thursday is quite a full day for Tier 1 economic data as we receive the Final Markit PMI\u2019s for German, UK and US services.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The Australian dollar dropped at the European open after the Australian Trade Balance grew more than expected. The AUDUSD<\/a> is back into the daily Ichimoku cloud which is acting as support for the current week. If the DXY was to keep strengthening into the end of the week and the NFP numbers tomorrow, the Aussie could break lower and signal the start of a bearish breakdown towards the 0.7600-0.7650 zone.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The USDJPY<\/a> is rising, which is helping to support the Nikkei 225, after reports came out that Prime Minister Suga is likely to call an election after the summer\u2019s Olympics. The ActivTrader sentiment indicator is currently balanced with 52% of traders shorting versus 48% of the traders bullish the currency pair.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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In the overnight session Chinese data showed that services growth slowed during May. The Caixin China General Services PMI fell to 55.1 in May from a four-month high of 56.3 in April, still pointing to the 13th straight month of increase in the services sector. The PBoC have been successful this week in getting the Yuan to depreciate against the US dollar. The worse than expected data today has helped lift the USDCNH<\/a> to 6.3907 with market structure likely to act as resistance at the February 2021 lows. The US plans to amend its list of Chinese military-linked blacklisted companies in the defence and surveillance technology sectors. The amended order is expected to be signed by Biden later this week and is still broadly in line with the previous administration\u2019s actions.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The precious metals are down today, with gold<\/a> and silver <\/a>dropping -0.78% and -1.23% respectively. A stronger US dollar would apply pressure to the rising metals which are technically still in a bull trend until a break lower than last week\u2019s low print of $1872 for gold and $27.37 for silver.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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EUR\/USD<\/a> has embarked on a steady uptrend after defending the interim support near 1.1700 and the monthly 20 and 50 exponential moving averages. The pair is above the Ichimoku cloud on a monthly timeframe, which indicates upside momentum is still prevalent having broken higher at the end of 2020. The fib extension shows 1.338 would be a measured move on continued bullish momentum.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Morning Brief At the London session open the US dollar is finding strength against the rest of the G7 currencies. The DXY has traded back up to the weeks opening price ahead of the US ADP Employment figures and Initial Jobless Claims. Thursday is quite a full day for Tier 1 economic data as we […]<\/p>\n","protected":false},"author":5,"featured_media":9552,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,2],"tags":[154,18,28,49,67,103,22],"yoast_head":"\nStronger US dollar ahead of employment data is applying pressure to the Yuan - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/stronger-us-dollar-ahead-of-employment-data-is-applying-pressure-to-the-yuan\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stronger US dollar ahead of employment data is applying pressure to the Yuan\" \/>\n<meta property=\"og:description\" content=\"Morning Brief At the London session open the US dollar is finding strength against the rest of the G7 currencies. The DXY has traded back up to the weeks opening price ahead of the US ADP Employment figures and Initial Jobless Claims. Thursday is quite a full day for Tier 1 economic data as we […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/stronger-us-dollar-ahead-of-employment-data-is-applying-pressure-to-the-yuan\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-03T08:10:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-03T19:57:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/06\/photo-1572791035467-379a14a6dafd.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"752\" \/>\n\t<meta property=\"og:image:height\" content=\"419\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Neville Hornsey\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Neville Hornsey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/stronger-us-dollar-ahead-of-employment-data-is-applying-pressure-to-the-yuan\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/stronger-us-dollar-ahead-of-employment-data-is-applying-pressure-to-the-yuan\/\"},\"author\":{\"name\":\"Neville Hornsey\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/95b20558021997bd74f4db43fabddf85\"},\"headline\":\"Stronger US dollar ahead of employment data is applying pressure to the Yuan\",\"datePublished\":\"2021-06-03T08:10:00+00:00\",\"dateModified\":\"2021-06-03T19:57:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/stronger-us-dollar-ahead-of-employment-data-is-applying-pressure-to-the-yuan\/\"},\"wordCount\":470,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"DXY\",\"EURUSD\",\"GOLD\",\"Silver\",\"US Dollar\",\"USDCNH\",\"USDJPY\"],\"articleSection\":[\"Forex\",\"Markets\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/stronger-us-dollar-ahead-of-employment-data-is-applying-pressure-to-the-yuan\/\",\"url\":\"https:\/\/youtrading.com\/en\/stronger-us-dollar-ahead-of-employment-data-is-applying-pressure-to-the-yuan\/\",\"name\":\"Stronger US dollar ahead of employment data is applying pressure to the Yuan - 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