 |
| Trade the NFP new at Nshing Advertising Hub |
Friday's key focus will remain on the US monthly jobs report for September.
The USDCHF pair remained under some heavy selling pressure through the European session on Friday and retreated farther from 2 and a half month tops set in the previous session.
The pair on Thursday once again met with some fresh supply near the 1.0025-30 region and finally settled below the parity mark on the back of some aggressive USD selling following the disappointing release of USD ISM non-manufacturing PMI for September.
The Greenback was further pressurized by a sharp intraday slump in the US Tresury bond yields, amid growing FED rate cut expectations, though a late rebound in the US equities weighed on the Swiss Franc's safe-haven demand and extended some support to the major.
Weak Equities/USD prompts unwinding trade
The pair continued with its struggle to find acceptance above the 1.00 handle and witnessed some long-unwinding trade on Friday in the wake of some following-through slide in the US bond yields, which continued exerting some downward pressure on the buck.
This coupled with a weaker trading sentiment around equity markets and some repositioned trade ahead of today's trade on monthly jobs report-further collaborated to the pair's slide back towards the very important 200-day SMA support near mid-0.9900s.
It could however, remain to be seen if the current pullback marks the end of the recent positive momentum or attract some fresh buying at lower levels as market participants look forward to the headline US NFP print and the closely watched wage growth data for a fresh directional impetus.
TRADE WITH THE MOST RELIABLE BROKER. Register ➽ FBS.COM . GET $100 BONUS. DEPOSITS AND WITHDRAWALS ARE A MATTER OF MINUTES.
CMRFOREX is a fx training and trading inc based in Cameroon and trains traders worldwide.
TRADE WITH THE MOST RELIABLE BROKER. Register ➽ FBS.COM . GET $100 BONUS. DEPOSITS AND WITHDRAWALS ARE A MATTER OF MINUTES.
CMRFOREX is a fx training and trading inc based in Cameroon and trains traders worldwide.
No comments:
Post a Comment