U.S. Non farm payroll came out at 115.000 Vs. 160.000 expected and unemployment showed a decrease at 8.1% Vs. 8.2% expected. A mixed picture here that perfectly reflects on market reaction. Take a look at the 15 minutes chart of USD/CAD for example (above): a big spike down followed by a jump up.
Same thing on the USD/JPY showed on the second chart: dollar depreciate first to run back up.
A similar reaction was recorded on the U.S. equities futures with a 5 point drop followed by a sudden recover.
This is to remember that trading the news is extremely difficult specially when you get mixed data, markets not always have a clear idea of how interpret the readings and volatility spikes up hitting stops and limits levels pre-set on trading platforms around the world.
To notice the Oil depreciation that took place during the Asian and European sessions showed here on a Daily time frame; Oil stands now just above 100 $ and seems to want a test of the 200 Simple Moving Average (one of the most watched by traders) witch stands now at 96.39 $. Operators are anxious on the Wall Street open ; what the reaction will be to this weak economic data from the U.S.? This next November will take place presidential elections and a slow recovery certainly doesn't help Obama, many people still remember what happened last year (and the previous) when we had a second part of the year characterized by bad economic data and drops in stocks despite a beginning of it that was showing improvements and stocks appreciations.
0 commenti:
Post a Comment