Nonfarm Payrolls Day

The U.S. releases the much-awaited event of the month, the Nonfarm Payrolls for July which is due at 12:30 GMT. This report could trigger interest market movements and alter the trend of the U.S. dollar in case the U.S. misses its target, it is expected to add 183,000 new jobs in July, after June’s positive figure of 222,000 jobs. The ADP survey released on Wednesday revealed the private sector failed to meet expectations. The U.S. also reports its unemployment rate for July at 12:30 GMT today. Political turmoil would also play a major role in the currency valuation of the U.S.

source:Investing.com, CNBC

In his speech, the governor of the Bank of England, Mark Carney signalled that uncertainty over Brexit is presently weighing on the U.K. economy. He also said that business investment was slower than expected, below historic rates because of Brexit. The Central Bank voted 6-2 to keep interest rates on hold at 0.25 percent, the same level since August last year. To mark the 10th anniversary of the start of the global financial crisis in August 2007, Carney stated that the City “should not be allowed to expand rapidly if it meant repeating the risky speculation of a decade ago.”

On Thursday, BMW Group revealed its earnings and sales rose in the second quarter, helped by demand in China. Its net profit for the fiscal quarter ending June was $2.59 billion, deliveries of BMW rose by 4.6 percent. Meanwhile, Canada is set to report its employment change and Ivey PMI, both for the month of July, at 12:30 GMT and 14:00 GMT respectively. These can be an important indicator of the economic performance.

Technical Analysis

AUD/USD

AUD/USD

On Thursday’s early trading hours, the AUD/USD pair was quoted at its lowest level at $0.79241 at 07:00 UTC after a set of pullbacks. However, around 11:00 UTC, it started picking up some heights as from 11:00 UTC and maintained an uptrend till the end of its session. Today, it started consolidating as from 02:00 UTC, where it was quoted on a bullish candle at $0.79638. It could gain more strength through the day, use Long Term Trading.

UKOIL

UKOIL

The international benchmark brent crude traded at the $52.62 level at 16:00 UTC where it was dragged by a huge set of pullbacks to reach the $51.92 level by the end of yesterday’s session at 22:00 UTC. On Friday, oil markets opened weaker and started losing momentum as from 02:00 UTC. It is seen moving more towards a downtrend and is expected to edge lower through the day. The rising output from the U.S. as well as OPEC supplies contributed much to this downfall in the price of crude oil.

SPX 500

SPX 500

The S&P 500 recorded its highest level for Thursday at the 2474.7 level around 12:00 UTC but immediately started losing value on the market from the very next hour. Other Wall Street indices also dropped after the announcement of Russia’s involvement in the U.S. election yesterday night. Today, the index gained several monetary jumps as from 01:00 UTC at 2471.1 points till it reached 2472.2 points at 04:00 UTC. It will experience a change in trend around 09:00 UTC today, watch out for this opportunity.

Things to watch on the market

Tip 1

It is recommended to trade currency pairs such as the EUR/USD, GBP/USD, AUD/USD, along with Wall Street indices and gold futures with any tools available on our platform.

 

Tip 2

Following Brexit, the pound sterling can be much affected and it is thus advisable to consider the EUR/GBP and GBP/USD pairs.

 

Tip 3

BMW shares can be traded, along with assets such as the GBP/CAD, USD/CAD and TSX 60 on TradeReplica.