US Market Wrap

It was an up and day session in the US yesterday as both stocks and the majors couldn’t really find any momentum.

For the most part, it was the commodity currencies that managed to pull back after some recent falls, while the likes of the SPX did find some buying which helped them finished in the green.

We did see US jobless claims continue to sit around the same levels and while the trend is down, we aren’t seeing any big drops just yet. Although most experts are happy to see this number under the one million mark, it is still raising issues about further stimulus, which is still unlikely at the moment it seems.

Over the course of the week, risk assets have seen some strong selling and with the weekend closing in, there is a chance of more to come.

The Data Agenda

There is very little by way of top-tier data today, with the main events once again happening during the US session.

Most of the attention will be on Core Durable Goods for August which is expected to come in at 1.2%, which is down on the prior reading.

Later in the session, we will get the latest Baker Hughes rig count, which could also impact WTI as it is consolidating around the $40 level.

Forex Signal Update

The FX Leaders Team hit 1 winner from 2 trades yesterday, as markets were not moving with any real momentum during the US or European sessions.

Make sure you follow our live signals as there could be some moves headed into the weekend.

EUR/USD – Active Signal 

The EUR/USD has been soft this week and has dropped under the 1.1700 level which has been support in the past. As a result, we’re short, looking for more downside.

Gold – Pending Signal 

GOLD has broken down under the $1900 level and is looking very bearish at the moment. The triangle pattern played out perfectly and while it remains under that point we are looking for opportunities to the short side.

Cryptocurrency Update

BTC has been relatively range bound in recent times holding between $11,000 level above and the ever-important $10,000 mark.

We’ve seen a bit of a bid in the past 24 hours and it looks like price might want to re-test that upper bound.