11Jul
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IForex Market Trading Signals and News – 11 July 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – GBP/USD posts rare win, as dollar wavers after stellar jobs report
  • Forex -Dollar remains broadly higher, U.S. data supports
  • Forex – USD/CAD near 2-week highs after U.S., Canadian jobs data

EUR/USD
EUR/USD has posted slight losses on Friday, following modest losses in the Thursday session. The pair is slightly below the 1.11 level. On the release front, German Trade Balance slipped in May but was within expectations. Next up is French Industrial Production. Over in the US, employment data will be in the spotlight with three key events, highlighted by Nonfarm Employment Change. US employment numbers looked sharp on Thursday. ADP Nonfarm Employment Change was almost unchanged in June, with a reading of 172 thousand. This figure was well above the forecast of 158 thousand. This was followed by a solid unemployment claims release, as the indicator dropped to 254 thousand, marking an 11- week low. A strong release would confirm that the labor market is improving and job creation is gaining steam.

GBP/USD
GBP/USD posted modest gains on Friday to post a rare winning session, as the dollar wavered throughout a choppy day of trading after reports showed that the U.S. labor market added the highest number of jobs in June in nearly 10 months.The currency pair wavered between 1.2881 and 1.3018, before settling at 1.2952, up 0.0046 or 0.36% on the session. With the slight gains, the British Pound recorded just its fourth winning session since voters in the U.K. surprisingly backed a referendum last month paving the way for a departure from the E.U.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3055 TGT 1.3075 1.3105 SL 1.3025
  • SELL GBP/USD BELOW 1.2935 TGT 1.2915 1.2885 SL 1.2905

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