The growing stock market indices and the weaker USD sentiment stayed on the Asian part of the session. USD/JPY deepens declines, and comments from the Japanese federal government do not bother. Information from the Australian labor market disappointed expectations, although with a deeper analysis they are not too great. The liquidity is restricted due to the start of the New Moon Year celebrations in lots of Asian nations.
On Thursday, 15 February, the event calendar is quite hectic with essential news releases. The marketplace individuals need to keep an eye on Trade Balance information from the Eurozone, ADP Non-Farm Employment Change information from Canada, PPI, Philly Fed Manufacturing Index, and Unemployment Claims information from the United States.
AUD/USD analysis for 15/02/2018:
In Australia, work in January increased by 16k versus the expected 15k boost, and the unemployment rate amounted to 5.5%. The details of the report do not look great. Full-time work fell by 49.8 k (a month earlier +1.1 k), and part-time employment increased by 65.9 k(vs 19.5 k).
Let’s now have a look at the AUD/USD technical image at the H4 time frame. The market has actually broken above the 38% and 50% Fibo retracement and is presently heading towards the 61% at the level of 0.7987. The momentum is rather strong, but the market starts to enter the overbought area. A turnaround or pull-back is anticipated at the level of 0.7987.
Market Photo: DAX is attempting to bounce higher? The price of German DAX index did not make a new local low, but instead, bounced a bit greater and left the long shadow up candle light. This may recommend another attempt to test the current technical resistance at the level of 12,503 and after that 12,623. The stock indication is bouncing off the oversold territory, validating the upwards predisposition.
Market Photo: SPY has the lower high in view The price of SPY (SP500 ETF) has actually made its method to the previous lower high at the level of 272.32, accompanied by the strong upward momentum. Presently, the price is trading at the level of 269.64, and it is breaking through all the small resistance. The pointed out level is the essential resistance to the advantage.
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