Forex Trade Signals | Friday’s U.S job report surprised investors as economy has added 313 k new jobs in Feb , more than market Forecast. It was the largest month to month gain in 3.5 years , Although the low rate in wage growth and uptick in employment rate did not let the dollars bulls to take over. The strong NFP numbers hinted fed next rate high is coming up at next FOMC meeting. Fed Rate monitor tool now showing 98 % expectation of 25BP rate (1.50% to 1.75%) hike on 21 march 2018 at investing.com. February consumer spending and inflation reports will be in focus.It will be first rate hike of new Fed President Mr. Jerome Powell. USD/JPY Sitting at 106.70 , a day high after Non-Farm Payroll Event.
European central bank left interest rate unchanged but less hawkish tone of ECB Head Mr. Mario Draghi push down EUR/USD back to 1.23. Investors were much worried of “trade war” and Trump’s Steel And Aluminium Tariff rather than any central bank policy. Donald Trump offered exemptions to Canada and mexico along with invitation to other nations to apply for exemptions. Market analyst expect a relief on “trade war” after trump’s initiative. How ever some nations still looking for better deals. we will post trade ideas on Euro Crosses as Euro is going to under perform in upcoming weeks on our facebook page . Almost all Euro Crosses sitting on overbought zone specially EUR/GBP ,EUR/CAD.
Sterling , on the other hand ,recovered it losses against majors. Brexit negotiations are not going well on both sides as both parties have issues with customs union and Borders. No progress has been done yet although next brexit meeting could provide more hints on 22 march 2018. Britain economic reports present better economic outlook – service sector and trade deficit expanded slightly. With no UK on next week’s calendar sterling will be depend on counter currencies.
Canadian dollar did well and getting strong after trump gave exemption to Canada and Mexico on Steel and Aluminium tariff.Canadian loonie got excited after this statement push USD/CAD to 1.2750.Canadian economy also added 15 thousands new job in Feb, However it was less than forecast.But there is doubt , loonie bulls are getting control. Canadian Dollar trade setup will post on our Facebook Page and Foxa Money.
If you are looking for Trade signals or learn how to trade Forex , E-Mail me Here : email@example.com