US Wrap

US equity markets might have been shaky yesterday, but the USD looks as strong as ever.

Over the past few weeks, we’ve seen money flowing back into the USD as yields continue to gain ground. As it stands, the yield on the 10-year is sitting at 1.726, which is an enticing proposition for some.

That said, the rising USD is causing problems for the majors as most have declined across the board. Meanwhile both SILVER and GOLD are tumbling. An interesting turn of events given that demand for physical bullion is at levels not seen in decades.

The Data Agenda

It’s a busy day ahead on the economic calendar, which starts early with the release of UK GDP and German job numbers – both of which are ugly looking results.

However, the most interesting number by far is going to be the ADP employment data. This of course is the private jobs data which is a precursor to the non-farm payrolls number due out on Friday.

We’re expecting to see 550K new jobs last month which is a massive lift and comes on the back of many US states fully opening up and removing all restrictions from the China virus.

Forex Signal Update

The FX Leaders Team grabbed the one win in our GOLD signal to the short side.

EUR/USD – Active Signal

The EUR/USD is falling sharply thanks to the strong USD. We are short looking for that to continue.

Oil – Active Signal

WTI is coiling and holding above $60 for the time being. Look out for the latest inventory data later today as well.

Cryptocurrency Update

BTC has been running hot thanks to a host of news surrounding various companies adopting crypto.

Interestingly, many are talking about digital currencies and while we could infer this is a positive for Bitcoin, I still am very concerned about the growing number of digital assets that will be in the firing line.

Price is through the $58,000 level and wanting to test the $60,000 level.