US NFP worse and Canadian employment data better than they may first appear: USD/CAD
Joe Perry February 5, 2021 3:19 PM
US and Canadian payroll data moving in opposite directions! Share:
The US Non-Farm Payrolls released today were roughly in line at +49,000 jobs added to the economy in January. However, December’s figure was revised lower, from -140,000 to -227,000! And although the unemployment rate was much better than expected, 6.3% vs 6.7%, the participation rate was lower. This indicates that many people had dropped out of the labor force, and therefore, due to the method of calculation of the unemployment rate, resulted in a lower rate.
Japanese Yen Outlook: USD/JPY Breakout- Bulls Drive For Seventh Day 2021-02-04 17:30:00 Michael Boutros, Strategist
Japanese Yen Technical Price Outlook: USD/JPY Weekly Trade Levels
Japanese Yen technical trade levels update – Weekly Chart
USD/JPY breakout extends into February open
Constructive while above 104.18 – Initial resistance objectives in view at 106 Advertisement
The Japanese Yen is off more than 0.7% against the US Dollar this week with a breakout in USD/JPY fueling a rally of more than 2.8% off the January lows. The advance is poised to mark a seventh consecutive day and while the broader focus remains tilted to the topside, the advance may be vulnerable in the weeks ahead as price approaches technical resistance just higher. These are the updated targets and invalidation levels that matter on the USD/JPY weekly price chart heading into NFPs tomorrow. Review my latest We
Euro Outlook: EUR/USD Plummets Past 1.20- 2021 Breakdown Intensifies 2021-02-04 19:43:00 Michael Boutros, Strategist
Euro Technical Price Outlook: EUR/USD Near-term Trade Levels
Euro updated technical trade levels – Daily & Intraday Charts
EUR/USD breakdown accelerates more than 1.4% lower into February open
Support objectives eyed at 1.1945 & 1.1893 – risk for further losses sub-1.2128 Advertisement
Euro is poised for a fourth consecutive daily decline against the US Dollar with EUR/USD off more than 1.4% this week. A break below the January opening-range lows has fueled leg lower into the start of February with Euro now down more than 3% off the yearly high. The decline is now approaching the first major support objectives and we’re looking for possible price inflection just lower. These are the updated targets and invalidation levels that matter on the EUR/USD technical price cha
Gold Price Susceptible to Bearish RSI Signal on Break of January Range 2021-02-04 20:00:00 David Song, Strategist
Gold Price Talking Points
The price of gold takes out the January low ($1803) ahead of the update to the US Non-Farm Payrolls (NFP), and the Relative Strength Index (RSI) may indicate a further decline in gold prices if the oscillator crosses below 30 and pushes into oversold territory. Advertisement
Gold Price Susceptible to Bearish RSI Signal on Break of January Range
The price of gold trades to a fresh yearly low ($1785) even though longer-dated US Treasury yields remain afloat, and the precious metal appears to be moving to the beat of its own drum after failing to exhibit the bullish price action from 2020.