London Session Recap - Three Take Profits In A Row! - FX Leaders News

London Session Recap – Three Take Profits In A Row!

Posted Thursday, September 6, 2018 by
Arslan Butt • 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

Arslan Butt is our Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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