Forex Signals Brief for May 3: US Jobs in Focus
US Wrap
US equity markets finished the week lower on Friday, despite positive earnings news across the board.
That was the real story of last week as the major companies in America, continue to recover strongly and if anything flourish in the current environment. Many of the big names beat expectations with ease and this continues to fuel the bull market.
Meanwhile, the USD has rebounded strongly and the upward pressure will keep the majors and commodities under pressure early in the week.
The Data Agenda
The major focus of the week will again be the state of the US jobs market as all the attention will be on non-farm payrolls.
The jobs numbers are continuing to rebound strongly as many states are now open for business and this is seeing expectations rise to the point that nearly 1 million jobs were created last month.
Elsewhere, there are a couple of central bank meetings of note, including the RBA and BOE and we will mostly be interested in their outlook and any cuts to bond-buying.
Forex Signal Update
The FX Leaders Team hit 8 winners from 14 trades last week for a 57% strike rate for a solid performance from the guys.
We have five open signals at the moment, so look to the forex signals page for all the latest developments.
XRP – Active Signal
XRP saw some upside on Friday and into the weekend, pressing as high as $1.67. However, there was little clarity on Friday in the SEC case and we now look to May 6th as the next key date in the ongoing dispute.
LTC – Active Signal
LTC is also drifting higher and has been knocking on the door of $280. We remain long.
Cryptocurrency Update
BTC jumped above the $55,000 level and that lead to some upside in the entire sector.
Currently, we are seeing price sitting around $57,000 and we are seeing some green across the board to open the week. So I would expect to see some buying as we head into the European and US sessions.
ABOUT THE AUTHOR
See More
Sidebar rates
Add 3442
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals