Pepperstone - Analytics


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    The Daily Fix - 10/2/2016

    Posted on: 10 February 2016, by: Pepperstone Support, category: Market Review

    The NY session got off to another tough start but risk off sentiment subsided as the morning wore on.  We saw some US data this morning. US jolts job openings grew by 5607 in December vs 5413 expected and 5431 prior.  This is the second highest since the series began. NFIB small business optimism fell 1.3 points from December falling to 93.9.

    US equities were seen recovering off the lows of the day following the US open still finishing the day down marginally.  WTI saw a another day where the commodity was taken down , settling the day at  the 28.00 level down over 5%, off the lows around 27.72. UST 10yy’s found some support around 1.70%

    EURUSD rose to trade over 1.13, a high of around 1.1338 while the European bank index closed down another 4.55%.  EURGBP closed above a key resistance level around .7760. 

    USDJPY rejected overnight lows trading back up over 115.00 from a low of 114.20.  It seems likely that wider ranges might be observed in the pair as there does not appear to be many meaningful levels on the charts until 114.20 and then 112.40. 

    CAD resistance was noticeable given the continued pressure in WTI.  USDCAD was unable to sustain its move up through 1.3950 trading back under 1.39 to close the day around 1.3870

    Traders will be looking ahead to tomorrow’s Yellen testimony.  Some expectations are for Yellen to deflate some of the enthusiasm for negative rates saying we are far from seeing the necessity of that possibly giving some support for the USD.

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