Tuesday, October 2, 2018

For these reasons we will not care about the US NFP report this week


We have two important events this week that may move prices, the US Non-Farm Payrolls report, which coincides with the            Average Hourly Earnings, the last report is always more important than the US jobs report because it is more accurate in terms of measuring the US economy's ability to add real market functions

Expectations for the jobs report to come negative while expectations for average hourly profit to come positively limited

But we have some notes on the movement of the markets during this week and last week as follows

The EUR has moved in a sideways cross-negative trend and is likely to rise at any moment
The GBP (despite all the problems surrounding it) moved sideways and could rise at any moment
Gold moved sideways against Dollar Euro with positive signs of gold performance all the time despite the decline for several sessions
AUD started to gain strength during last week's and this week
CAD has maintained its trading range within the tight range without being affected by the trade negotiations with America

Conclusion

The American economy is no longer the sole determinant of the movement of international markets. It seems that the world is tired of dancing on the sound of the American economy. There is a clear tendency to form another form of economic system to preserve the interests of big countries away from American blackmail.

The new wave appears to be supported by China and Russia, and looks clear in currencies related to commodities such as oil (in the case of Canada), gold (in the case of Australia) and the basket of Asian products (in the case of New Zealand)

Therefore, we can trade technically without stopping the activities waiting for results coming from USA
Also be noted that the dollar index is also still moving in the range of not exceeding the 97 does not retreat to 91 for many months

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