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Jobs in Focus

Forex Signals Brief for Aug 6: US Job in Focus

Posted Friday, August 6, 2021 by
Rowan Crosby • 1 min read

US Wrap

US Markets continued their upward trend yesterday as the focus continues to be on the US jobs situation.

On Wednesday, we saw a very soft ADP jobs number and that was followed up by a less than impressive jobless claims number yesterday. However, with interest rates at record low levels and no yield available anywhere else, it appears the bulls want to keep pilling into equity and risk assets.

GOLD continues to struggle to lift higher while the USD is once again making another push to the upside.

The Data Agenda

The main focus today will be US non-farm payrolls which is expected to come in at 870K.

But as mentioned, this is likely to be a bit of a stretch given what we saw this week and taking into account the fact there are still many states in the US that are struggling under Bidan.

 

Forex Signal Update

The FX Leaders Team hit 3 winners from 3 trades, with some strong gains in our crypto positions.

 

XRP – Active Signal

XRP has really been trading in a tight range and although Bitcoin is bouncing again, we haven’t seen fresh highs.

 

EUR/USD – Watching

The EUR/USD is looking weak after rejecting 1.1900 and we are on the hunt for a short position.

 

Cryptocurrency Update

BTC has rebounded well after the $38,000 level was tested once again.

Price has shot back up to 40,000 and this game and cat and mouse appear set to continue into the weekend.

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