10 February 2017
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Canadian employment data: Friday, 13:30. Canadian labor market expanded by 53,700 jobs in December missing forecast for a 5,100 job contraction. The majority of gains were full time positions contrary to previous reports. Full-time jobs increased by 81,300, while part-time jobs dropped by 27,600. The unemployment rate inched up to 6.9% from 6.8% in the previous month, as anticipated. And the labor-force participation rate rose to 65.8%, up from 65.6%. US Prelim UoM Consumer Sentiment: Friday, 15:00. Consumer confidence edged up in January to a 13-year high of 98.5, showing ongoing optimism about post-election financial policies. 44% of respondents expect the economy will improve this year, while 33% anticipate the unemployment rate will continue to decline. Current conditions remained elevated at 111.3 due to wage gains and household wealth. The six-month outlook also improved form 89.5 in December to 90.3 in January. However US allies have to prepare for the worst in regard to their relations with the US, in light of Trump’s recent attacks against Mexico, Australia and Japan. The new US president is willing to tear up the rule book that has guided relations with the U.S. since World War II, raising fear and uncertainty in the global market.
CAD Employment data
USD US Prelim UoM
Your capital is at risk!
- GOLD
The pair managed ti break through the level of 1225 so this may open the door for the pair to continue its bearish trend as long as the pair is traded below the level of 1225.
Resistance levels: |
Support levels: |
Recommended: |
▪ 1230 ▪ 1225 ▪ -- |
▪ 1215 ▪ 1210 ▪ -- |
We remain bearish as long as the pair is traded below the level of 1225. Your capital is at risk! |
- GBPJPY
The pair is making a new resistance level around 142.15 so if this level holds then we may go short targeting the level of 141.50 during the day.
Resistance levels: |
Support levels: |
Recommended: |
▪ 142.15 ▪ 143 ▪ -- |
▪ 141.50 ▪ -- ▪ --
|
We remain bearish as long as the pair is traded below the level of 142.15 Your capital is at risk! |