Bullard said the rise in the unemployment rate rising to 3.9% will “get people’s attention.” That’s the highest unemployment rate in just over two years.
If the unemployment rate ticks up over 4%, it will give comfort to the Fed officials that they’re achieving “a soft landing in the labor market,” he said in an interview with MarketWatch
NFP (the finer details do not matter as much as player reaction)
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according to RTRS:
Fed gets another reason not to rush on rate cuts
Employers added a robust 275,000 jobs last month, a Labor Department report showed on Friday, handily beating the 200,000 that economists expected.
EURGBP 1 Hour Chart
If you trade EURUSD and/or GBPUSD you should keep an eye on EURGBP.
Currently, blue AT lines are dominating, indicating either GBP strength or EURUSD is not as strong as charts show (same for other EUR crosses) and pointing the risk to the downside
Whatever the case, EURGBP .8500 is the current line in the sand.
I have a video on file how to use crosses to trade spot. Contact me if you would like a copy.
BTC 4 HOUR CHART
I am not sure why I am even trying to analyze BTC as it feels more like a video game than a tradable instrument.
The bounce from a 15% retracement just set a new high above 70000 and then a quick 2000 pip retreat (about 3%)
So just look at the chart, needs to close and stay above its former high just broken while on the downside the 59081 low keeps the risk on the upside.
US Embassy in Moscow warning of imminent terror attack by Islamic State in Moscow against Jewish targets, with one being thwarted the other day. Hence my post yesterday where I noted I like having a trailing sell stop order in USD at all times at the mid-level point of any 100pip range the pair is currently in while price is above the mid point (50).
Believe the 10yr yield gapping down Monday to open at 41.64 was one of the 1st clues for the Usd for the week. Have been eyeballing the yield to fill the gap but no dice. Yield looks destined to fall to 39.60/70 with this activity, and if so that is the first area of contention followed by 39.69 and if compromised 37.80 in my view.
Long Usd vs Singapore Dollar and Mexican Peso filled almost at absolute bottom post data, will hold for fun. At times I trade crosses approaching data to stay out of wild activity. I’m riding a Gbp/Chf from Wednesday at 1.2225 and am likely to exit any time here, see it settling around 1.1250 around end of day likely. Light positions. Bailed last night on Aud and Gbp sells with a squeaky gain, didn’t look good at all, those were testers. Still see Usd pulling up a bit overall but obviously the dynamic has shifted to the sell side.
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