“They are not waving it yet but I think it’s getting closer.”
The US Fed’s statement on Thursday morning has put shivers through US stock markets with the Dow Jones down over 400 points at one stage on Thursday and when you join me today for Friday Live at 3.00pm AEST in the FX Trading Room I will show you an interesting statistic that only adds to the probability that US stock indexes will ultimately capitulate and go lower this year, sending the Yen back higher. US stocks were sharply lower in the pre-Market as traders are coming to the realisation that moving money into fixed income will help protect their portfolio’s as inflation and US interest rates rise. The US stock market in my view is getting closer and closer to capitulating and tonight the US jobs report might just be another nail in the coffin.
The Yen is steadily gaining strength again and the USD v JPY a leading indicator rolled over in the past 24 hours and the base currency the USD looks weak technically. With the US Non-Farm Payrolls report due tonight, I will be eager to watch the last quarter of Friday night footy to ensure I am up late enough to see how currency markets react to the US jobs number. The US Dollar has rallied strongly in recent weeks as the Euro and Pound have lost some of their shine with weaker than expected economic data in April and comments from both Central Banks being more dovish than hawkish. If we see the US Non-Farm Payrolls miss estimates tonight the US Dollar v Yen will likely come under more selling pressure and this will help drag down the correlated currencies such as the AUD v JPY, NZD v JPY etc.
Join me at 3.00pm today for Friday Live in the FX Trading Room. Today’s topics for discussion.
- How to think like a professional trader.
- Adding more trades to your account with the EUR v USD 15-minute Price Rejection trade.
- Next week’s TrainwithAndrew theme.
- Detailed analysis of the economic calendar.
- Any upcoming trade set ups.
About the Author: Andrew Barnett
Andrew is a professional trader and successful investor who has a strong focus on education. He is a regular Sky News Money Channel Guest and one of Australia’s most awarded and respected financial experts and is regularly contacted by the Australian Media for the latest on what is happening with the Australian Dollar. Director at LTG GoldRock, Andrew Barnett, guides thousands of traders around the world in the live market on a daily basis, advising them on buy and sell directions, as well as trading his own personal account. Andrew, a regular keynote speaker at trading and wealth-creation events throughout the Asia Pacific region, is an authorized representative registered with the Australian Securities and Investment Commission (ASIC).
If you would like to speak to one of our Senior Client Advisors regarding the relative client opportunities offered at LTG GoldRock and how you can follow along with our Professional traders each day in our live trading room please contact us today or you can register for one of our a live coaching and trading webinars by clicking here.
The post Today’s Key Market Drivers: 4th May 2018 appeared first on Ltg Goldrock.
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