London Session Recap – Three Take Profits In A Row!
Arslan Butt•Thursday, September 6, 2018•1 min read
What’s up, traders.
It’s been another awesome session as our trading signal on gold, EUR/GBP and GBP/USD managed to close at take profit. The London session wasn’t very volatile but the U.S. session can show us some action on the release of ISM non-manufacturing PMI.
Key Takeaways:
- The Aussie remains firm against the dollar on the back of better than expected trade balance. The economy showed a trade surplus of 1.55B vs. 1.46B forecast.
- German Factory Orders fell by 0.9% vs. the forecast of 1.8%. The impact was sort of muted as investors have more significant events to trade today.
- The U.S. ADP Non-Farm Employment Change is finally out and I must say it disappointed the market with 163k jobs vs. the forecast of 195k jobs. The dollar is getting weaker on the release, but the impact is likely to be shortlived as investors focus stays on ISM Non-manufacturing PMI. Check out FX Leaders economic calendar for the live coverage of the event!
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ABOUT THE AUTHOR
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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