Forex Signals Brief for Apr 3: A First Look at US Employment

Posted Wednesday, April 3, 2019 by
Rowan Crosby • 2 min read

Employment in Focus

The big focus of the week continues to be US employment on Friday. Today we get the first look at what might be possible with the private ADP release.

Employment has been a real strong point for the US in recent times and arguably the one shining light. The expectation for today is that we will get 185K new jobs created last month.

We will also get ISM Non-manufacturing PMI and Crude Oil inventories, all of which could be a decent catalysts for both the USD and oil.

Out of the UK the attention will be on Services PMI, while there is a host of second tier data releases in Europe today.

Elsewhere there have been reports out today suggesting the US and China are closing in a deal, while there is likely to be more Brexit sagas as the latest deadline continues to close in.

Forex Signal Update

The FX Leaders Team finished yesterday with a 50% strike rate from two trades after our BTC stop got taken out.

EUR/CHF – Active Signal

The EUR/CHF is holding up for the time being despite the EUR being weak overall. Consolidating at lows is still a sign of weakness and this one has more to play out.

AUD/USD – Active Signal

The AUD/USD jumped higher this morning thanks to a big beat on the retail sales data. That was followed up by some positive Chinese data, so our long signal is looking good for now.

Cryptocurrency Update

I had to check the calendar because I thought it might be 2017 all over again. It wasn’t but that didn’t stop Bitcoin going on a massive run yesterday, right at the end of the Asian session.

There were signs that the bulls were in control and after a period of low volatility, there was a real possibility of a strong move. I don’t think many thought the price could run to $5,000 so quickly though. The highest point since last November.

Exactly why we are breaking out here is still up for debate, with speculation that a big order was getting executed across multiple exchanges. Regardless, we will now turn our attention to the $5,000 level to see if price can hold.