Forex Signals Brief for Oct 1: Jobs in Focus
Rowan Crosby • 2 min read
US Market Wrap
Markets were ultimately a little bit stronger yesterday after the Presidential Debate didn’t really seem to add all that much volatility across the board.
During yesterday’s session, the attention did fall back on the potential for more US stimulus to help the economy, but as we’ve seen, this is still a long way from reality. At the same time, the ADP jobs number did beat expectations and that helped the SPX close in the green.
The main movers in the forex market were the commodity currencies which ended the day stronger, led by the USD/CAD. However, there does appear to be a fair bit of hesitation in the air as uncertainty continues to keep a lid on things for the time being.
The Data Agenda
We are getting to the business end of the week and with that in mind, jobs once again become the key focus.
As mentioned, the ADP jobs number was better than most predicted yesterday and the bulls will be hoping that jobless claims numbers can continue to fall. Of course, Friday is the all-important non-farm payroll number.
The early going in Europe and the UK will also be worth watching today as we get German and UK Manufacturing PMI, so they will clearly be market movers for the EUR/USD and GBP/USD.
Forex Signal Update
The FX Leaders Team finished with 4 wins from 6 trades to round on the month in strong fashion.
Make sure you follow our live signals as we could see some action this week ahead of some big data points and plenty of political undertones.
DAX – Pending Signal
The DAX has been relatively range-bound since June, but support has been strong. With that in mind, we are looking for a long signal here.
Gold – Active Signal
GOLD has held under the $1900 level once again and our short signal is alive and well.
BTC hasn’t really done much in the past 24 hours, but the buyers are still there.
With price holding up just under the $11,000 level, we are still in for a potential test.