US Market Wrap

There was more positive vaccine news released yesterday, but it wasn’t enough to spark equity markets.

The SPX slid along with key risk-on assets, even after the news that the Pfizer trial boosted its results to above 95%.

Interestingly, the NZD/USD continues to be the standout performer, while the surge in BTC is also one worth watching.

The Data Agenda

The focus today once again shifts back to the situation with US jobs.

Weekly claims data is out and so far this number hasn’t been able to fall under the 7 million mark. The bulls are hoping that will change.

While in the US, there is also home sales data and Philly Fed Manufacturing.

There are still plenty of central bank speakers today, including more from the ECB boss Lagarde, but with so much exposure lately, we are just not getting anything market moving across the board.

Forex Signal Update

The FX Leaders Team hit 2 winners from 3 trades yesterday, in what was a quiet session, but with some flows into the safe-havens.

USD/CHF – Pending Signal 

The USD/CHF has been rangebound lately, but while support at 0.9100 holds, we think there could be a long signal.

DAX – Active Signal 

The DAX is coiling here and making a very nice flag formation. I suspect we are going to get a very nice breakout. If resistance breaks, I think this is an excellent long signal.

Cryptocurrency Update

BTC has been a strong performer this week, but it looks like price could be running into some selling pressure.

Price broke above $18,000, before seeing some big red candles and large wicks. This is often a sign of a slowdown or top. That said, this is often just a pullback and longer-term we have some positive fundamental catalysts.