FXStreet (Córdoba) – EUR/USD advanced to fresh daily highs despite the release of slightly better than expected US ADP employment report.

ADP reported US private sector added 205K new jobs in January, beating expectations of 195K, while, December reading was upwardly revised to 267K from 257K previously estimated.

The ADP report gains relevance ahead of the Government nonfarm payrolls report to be published on Friday. Despite the somewhat upbeat reading, the dollar weakened across the board following the release amid dovish comments from FOMC member Dudley.

EUR/USD rose above the 100-day SMA and reached a fresh 2-week peak of 1.0975 in recent dealings. At time of writing, the pair is trading at 1.0966, up 0.44% on the day.

EUR/USD levels to watch

As for technical levels, immediate resistances are seen at 1.1000 (psychological level) and 1.1052 (200-day SMA), while supports could be found at 1.0886 (20-day SMA), 1.0809 (Jan 29 low) and the 1.0777/70 zone (Jan 21 & 7 lows).

EUR/USD advanced to fresh daily highs despite the release of slightly better than expected US ADP employment report.

(Market News Provided by FXstreet)

Read More

FXStreet (Mumbai) – New York Fed’s Dudley was on the wires today stating that a significant global downturn and/or dollar strength could hurt US economy.

He assured markets that Fed would take deteriorating finances more seriously if they persist. “Must find out if financial conditions reflect the economic reality”, he added.

The comments are slightly dovish and may not come as a surprise since financial markets stay risk averse despite Japan’s negative rate surprise.

New York Fed’s Dudley was on the wires today stating that a significant global downturn and/or dollar strength could hurt US economy.

(Market News Provided by FXstreet)

Read More

FXStreet (Mumbai) – The USD/JPY pair added 10-pips to 119.46 levels after the release of a better than expected US ADP report, before falling back again to near daily low level of 119.13 levels.

Jobs growth slowed

The ADP report showed the job additions in the private sector slowed down to 205K in January from the upwardly revised December’s reading of 267K. However, the drop was slightly less than the expected fall to 195K.

The dollar witnessed a very minor up move, which quickly ran out of steam as the Yen demand remained intact amid risk-off in the markets. The focus now is on the US ISM non-manufacturing number.

USD/JPY Technical Levels

The immediate support is seen at 119.00 levels, under which the spot could target 118.30 (23.6% of 125.856-115.97). On the other hand, a break above 119.75 (38.2% of 125.856-115.97) could open doors for a rise to 50-DMA at 120.25.

The USD/JPY pair added 10-pips to 119.46 levels after the release of a better than expected US ADP report, before falling back again to near daily low level of 119.13 levels.

(Market News Provided by FXstreet)

Read More

FXStreet (Mumbai) – ADP report published today noted private-sector employment increased by 205,000 from December to January, on a seasonally adjusted basis. Service-providing employment rose by 192,000 jobs in January, down from an upwardly revised 237,000 in December. Goods-producing employment rose by 13,000 jobs in January, well off from December’s upwardly revised 30,000.

Payrolls for businesses with 49 or fewer employees increased by 79,000 jobs in January, down from December’s upwardly revised 101,000. Employment among companies with 50-499 employees increased by 82,000 jobs, up still further from December’s upwardly revised 77,000. Employment at large companies – those with 500 or more employees – came in at 44,000, half of December’s downwardly revised 88,000. Companies with 500-999 added 15,000 jobs, while companies with over 1,000 employees gained 30,000 jobs.

ADP report published today noted private-sector employment increased by 205,000 from December to January, on a seasonally adjusted basis.

(Market News Provided by FXstreet)

Read More

FXStreet (Córdoba) – The Japanese yen strengthened versus most competitors on Wednesday, benefited by the risk-off sentiment and despite dovish comments from BoJ Governor Kuroda.

EUR/JPY
is extending a pullback from 1-month highs, having fallen more than 150 pips over the last sessions. The pair slid below the 50-day SMA (130.55) and hit its lowest level since the BoJ introduced negative rates last week at 130.25. It was last trading down 0.31% at 130.55.

From a wider view, EUR/JPY staged an impressive 8-day rally before finding resistance at the 100-day SMA (132.29) on Friday and started correcting lower.

EUR/JPY technical levels

In terms of technical levels, next supports could be found at 130.00 (psychological level), 129.67 (10-day SMA) and 128.93 (Jan 28 low). On the flip side, resistances are seen at 132.00 (psychological level/Feb 1 high), 132.25/28 (100-day SMA/Jan 29 high) and 132.78 (Dec 22 high).

The Japanese yen strengthened versus most competitors on Wednesday, benefited by the risk-off sentiment and despite dovish comments from BoJ Governor Kuroda.

(Market News Provided by FXstreet)

Read More