Forex Signals Brief for June 30: First Look at US Jobs
US Wrap
Markets were relatively flat yesterday while the USD continues to push high ahead of the latest jobs data on Friday.
The upward momentum in the Greenback is growing by the day and that kept the pressure on the majors and also key commodities.
The big move of note yesterday, really came in the crypto space with BTC reclaiming the $35,000 level and dragging the entire sector along with it.
The Data Agenda
There’s going to be quite a bit of data rolling out today and the main event is likely to be the US ADP jobs number, which can at times be an indicator of what Friday’s official data will show.
The expectation is for 600K new jobs, but it is worth noting that the past few months have seen the ADP miss the mark.
Elsewhere, the session starts early with the latest GDP estimates out of the UK, followed by German jobs data and then Eurozone CPI.
In the US there is also Canadian GDP, US Pending Home Sales and finally WTI crude oil inventories.
Forex Signal Update
The FX Leaders Team had a busy session with two wins from five trades while we still have five signals currently open.
XRP – Active Signal
XRP has crept up to the 70 cent mark and has broken the downtrend. But can the move hold?
EUR/USD – Active Signal
The EUR/USD continues to chop its way lower along with the rising USD. We could well be in for another leg lower should 1.1900 drop.
Cryptocurrency Update
BTC has been pushing above the $35,000 level over the past 24 hours, however, the sellers are coming back in today.
There was plenty of green around yesterday, but the question today is will those moves hold?