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Mid-Day Report: Dollar Mildly Lower after NFPDollar is mildly lower in early US session after a slightly disappointing non-farm payroll report. NFP showed 223k growth in June comparing to expectation of 225k. However, prior month's figure was revised lower from 280k to 254k. Unemployment rate dropped to seven year low of 5.3%. But that was due to more people leaving the workforce as participation rate dropped to 62.6%, the lowest since October 1977. The most disappointing part of the report was wage growth, with average hourly earnings flat mom versus expectation of 0.2% mom. Also from US, initial jobless claims rose 10k to 281k in the week ended June 27. The four week moving average rose 1k to 273.75k. Continuing claims rose 15k to 2.3m in the week ended June 20. |
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| Featured Technical Report | |
USD/JPY Mid-Day OutlookDaily Pivots: (S1) 122.60; (P) 122.92; (R1) 123.47; More... USD/JPY retreats mildly in early US session and intraday bias remains neutral first. Fall from 125.85 is viewed as a correction and might have completed at 121.93. Break of 124.43 will suggest that the larger up trend might be resuming and would target a test on 125.85 first. Nonetheless, below 121.93 will extend the fall correction to 61.8% retracement of 118.88 to 125.85 at 121.54. |
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| Orders and Options Watch | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency found support around 1.1050 and has recovered again, offers at 1.1120 were filled but sell orders are expected at 1.1145-50 and 1.1170 (stops above 1.1175-80), sellers are tipped at 1.1200, 1.1220-25 and 1.1245, selling interest should emerge around 1.1280 and 1.1300. On the downside, bids are seen at 1.1075-80, 1.1050 and 1.1030 (stops below), more buy orders are reported at 1.1000, 1.0980 and 1.0960, fresh demand should emerge at 1.0930 and 1.0900. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Trade Idea Update: GBP/USD - Sell at 1.5665As cable has rebounded after intra-day brief fall to 1.5564. suggesting consolidation above this level would be seen and recovery to 1.5640 cannot be ruled out, however, reckon previous support at 1.5664-67 would limit upside and bring another decline later, a break of said support would extend the fall from 1.5930 top towards support at 1.5542, however, loss of near term downward momentum should prevent sharp fall below 1.5500-10. Trade Idea Update: USD/CHF - Buy at 0.9390As the greenback has retreated after intra-day marginal rise to 0.9504, suggesting consolidation below this level would be seen and pullback to 0.9400 is likely, however, reckon the upper Kumo (now at 0.9381, same as previous resistance) would limit downside and bring another rise later, above said resistance at 0.9504 would extend the rise from 0.9151 low to resistance at 0.9513, break there would bring retest of previous resistance at 0.9543 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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