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Forex: AUD/USD trading positively at 1.0250/56

FXstreet.com (Barcelona) - The AUD/USD has been trading near its opening levels Friday, refusing to break higher or lower ahead of this afternoons US Nonfarm payroll data. Following a paring of overnight gains that took the cross to heights such as 1.0281 (daily high), the pair is now trading at 1.0250/56.

Mataf.net analysts identify means of resistive correction at 1.0283, then 1.0303, and finally 1.0333. On the pullback or a movement lower, a fall past the 1.0233 mark will enable short-term resistances at 1.0203, and eventually 1.0183.

“Just when USD weakness seemed sufficient for AUD/USD to break its ranges to the top side, 1.0400 failed to give way as gold and base metals tumbled once more. The dovish FOMC statement (flagging the chance of increasing QE, not just tapering off) fits the sluggish US economy and leaves open scope for renewed USD decline, meaning another run atv1.0400 is possible.” notes Global FX Strategist Sean Callow at Westpac.

Forex: EUR/GBP reaches 0.8450 after European Commission report

Following the publication of UK Markit Services PMI, the EUR/GBP eased from 0.8445 highs down to 0.8430, but the cross returned to its upside momentum ahead of the European Commission growth forecasts in the EU, reaching as high as 0.8450.
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Forex Flash: Today's US NFP report may boost skepticism – TD Securities

TD Securities analysts consider today’s Nonfarm Payrolls data as very important jobs report since economic data has been slipping and in a recovery all about jobs another downside surprise (88k last month) would show further skepticism that last month was simply a one-off fluke. “Consensus forecasts at 145k drifted lower after the ADP report of 119k and our standing estimate of 162k looks admittedly toppish. Even if we are right, it would still represent a deceleration in job growth. The jobs number will be weaker than recent trends, even if odds favor a bounce higher in April”, wrote analyst Alvin Pontoh, expecting the unemployment rate to remain unchanged at 7.6%, (7.57%) but the risk is tilted higher.
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