Morning Preview: US Jobs Are Now Front and Center - Forex News by FX Leaders

Morning Preview: US Jobs Are Now Front and Center

Posted Thursday, November 2, 2017 by
Rowan Crosby • 1 min read

Morning Fellas,

To say it was a wild trading session might be an understatement. Everyone was watching the BOE for their rate rise and that played out as expected. However, the dovish comments that came along with them weren’t all that expected.

The BOE are looking at ‘gently’ raising rates, which the market didn’t seem to like much. As a result, the GBP fell and the chart looked a lot like they didn’t hike at all.

At the same time US President Trump has announced, Jerome Powell to take control of the Federal Reserve. Shain has more about the story here.

The US dollar was a little weaker against the majors (except the GBP), however, it’s still in that same band that it’s been trading in recently. I’m still bullish on the USD and expect it to break out above 95.00.

Tonights US jobs number will be critical. If we get a good number, chances of a rate rise increase and that means the USD will strengthen. It’s an important number given the Fed want to hike in December.

 

DXY

US Dollar Index – 240 min Chart.

 

Top Events Today

AUD – Retail Sales

USD – Employment

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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