The latest US nonfarm jobs report was solid, despite slower wage growth
NFP review:
- The United States created 236,000 new jobs during March
- Unemployment rate decreased, and now is 3.5% (near 53 year low)
- Average hourly earnings (wage growth) was 4.2% month on month, the slowest since June 2021
Top 5 winners & losers across popular FX crosses during last 5 trading sessions
Today’s Economic Events
European markets closed for Easter Monday
- FX markets remain open
- EU stock exchanges closed all day
Tactical Trading Ideas & Commentary
GBP/AUD: clear uptrend, however short term resistance needs to be overcome, to keep the uptrend alive.
Current price is in a uptrend, this can be technically supported by higher tops and higher bottoms on price (see chart 1) the fact that price is above its 13 and 26 day moving averages (bullish moving average cross), and the fact that both the 6 and 13 day rate of change momentum indicators are above their respective zero lines (bullish). Therefore, long positions could be technically supported for a further price advance towards the 1.9130s provided price can overcome the 1.8740 resistance level. Downside risk seen below the 1.8120s.
Capitalise on volatility in Forex markets
Take a position on moving Forex prices. Never miss an opportunity.
Not investment advice. Past performance does not guarantee or predict future performance.
