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The improved US jobs data saw the equity markets recover strongly, but the dollar was unable to make any gains, except against the Yen, where the recently stalled uptrend may be about to resume. The Aud and Kiwi both bounced well and look positive at the start of the week, particularly after Sundays strong November China Trade Balance. Data today will include the China CPI and a mix of Japanese data during the Asian session and then the EU Sentix Investor Confidence Survey. Australia gets the ANZ Job Ads, but there is little due from the US apart from speeches from various Fed heads.
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Read the full FXCharts Weekly Outlook here or scan the market summary below.
|Res||1.3710||1.3740||1.3780||The Eur/Usd had a rocky ride after the strong US jobs data, Friday, which showed an increase of 203K in the NFP, while the headline unemployment rate fell sharply to 7.0%, a 5 year low…read more|
|Res||103.00||103.35||103.75||The yen reversed its recent strength after the strong US jobs data on Friday and having reaffirmed the 101.60 low in the Asian session…read more|
|Res||1.6380||1.6400||1.6425||Since reaching its high of 1.6442 last week, Cable has chopped around, pretty much within a 1.63/1.64 range …read more|
|Res||0.8965||0.8985||0.9000||The Chf remains strong and since breaking the bottom end of the channel it has not really looked back…read more|
|Res||0.9120||0.9165||0.9185||The Aud traded in volatile fashion after the US data on Friday, spiking down to 0.8988 before reversing equally sharply up to as high as 0.9117 …read more|
|Res||0.8300||0.8310||0.8340||As with everything else, the Kiwi had a pretty rocky session, stopping everyone out on both sides of the market …read more|
|Commodities / Indices|
|ASX SPI: 5212||Outlook|
|Res||5225||5240||5250||The SPI has recovered from its 5151 spike low and it looks as though it may have formed a small S/H/S bottom on the hourly charts …read more|
|S+P Futs: 1805||Outlook|
|Res||1810||1815||1820||The shorts once again got beaten around the head after the jobs data on Friday with the S+P spiking very briefly down to 1782 before reversing sharply to close at 1805.25, pretty much on its highs …read more|
|DJI Futs: 16025||Outlook|
|Res||16050||16100||16150||The Dow is back at 16000, and in the short term looks as though we could see another test of 16100 and possibly the all time high at 16160. …read more|
|Res||1240||1245||1250||Gold had a choppy time of it, spiking down to 1212, before reversing to rally equally sharply, to 1245, and then settling roughly in the middle…read more|
|Res||19.70||19.85||20.10||Silver gyrated in a range of 19.15/75 but ended up unchanged and looks as though it could do pretty much the same over the next couple of sessions…read more|
|Res||98.00||98.50||99.00||WTI chopped around following the NFP on Friday reaching 98.02 but came back to settle in mid range, without doing too much damage in either direction….read more|
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