Stocks are Holding Up

Forex Signals Brief for Oct 9: Will Politics Keep a Lid on the Market?

Posted Friday, October 9, 2020 by
Rowan Crosby • 1 min read

US Market Wrap

US markets managed to end the session green this time around led by energy pushing things higher.

At the same time, there were more hopes that stimulus talks were back on despite what US President Trump said earlier in the week. Either way, this continues to be one of the key themes at the moment.

We also saw jobless claims still stuck around last weeks level and this has been a theme for some time as well. The numbers just have not been dropping, however, continuing claims are making progress.

The Data Agenda

The bulk of the data today will be coming from the UK so the GBP/USD could be busy early on.

The main data points of note will be GDP and Manufacturing Production, however, it is worth noting that both are potentially a little dated.

In the US session, the USD/CAD, is looking towards the latest employment data. The numbers should show the rebound is continuing, however, this month will likely be lower than the prior.


Forex Signal Update

The FX Leaders Team hit 2 winners from 2 trades as the guys put together a solid week.


USD/JPY – Active Signal 

The USD/JPY has been holding nicely at 106.00 and we remain short here.

USD/JPY – 240min.


AUD/USD – Active Signal 

The AUD/USD is pushing higher as are the other commodity currencies. We are now long, looking for a retest of the key 0.7200 level.

AUD/USD – 240min.


Cryptocurrency Update

BTC has popped higher, but still hasn’t really been able to break out of the triangle pattern I spoke about yesterday.

I think a break above $11,000 though, could be a really nice long signal.

BTC – 240min.
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