US Market Wrap

Markets were relatively lacklustre yesterday with equities falling ahead of the US Presidential Debate.

Investors are clearly nervous and will be tuning in for what is setting up as a controversial election campaign.

We will all be watching the key risk assets and the likes of GOLD and the Greenback as this plays out in early Asian trade.

The Data Agenda

The data front has been very quiet so far this week, but that is all set to change with a host of numbers dropping today.

Early on we look to the UK, where we get the latest GDP print and the GBP/USD will be watching closely. However, the bulk of the action will be in Europe with German employment the major data point for the EUR/USD. At the same time, ECB President Lagarde will be speaking and there is also Eurozone CPI which is expected to remain flat at -0.2%.

Over to the US session and we will be getting the first look at the latest jobs data with the ADP employment report coming out. It will be showing around 650K new jobs created, but this number hasn’t been a great leading indicator of Friday’s NFP number recently.

We also get an updated GDP from the US then later on Pending Home Sales. The USD/CAD will also be watching GDP of its own and also the weekly WTI Crude Oil Inventories.

Forex Signal Update

The FX Leaders Team closed two signals in the red yesterday, however, volatility could be on the cards today, so keep watching the forex signals page.

USD/CHF – Active Signal 

The USD/CHF has fallen perfectly back to where it came from and our long term short signal is now looking pretty healthy.

Gold – Active Signal 

GOLD has rallied back to just under the $1900 level. This will be an important resistance level and we are short as long as this level holds up.

Cryptocurrency Update

BTC and the other major coins aren’t dong a lot at the moment, however, price does keep getting bought on these small pullbacks.

I’m still looking at a possible breakout here as there are signs of accumulation under this key $11,000 level.