Дек 04

FUNDAMENTAL ANALYSIS BY NSFX 04.12.2015

  • BY: Donal Kelly
  • Декабрь, 04th, 2015 19:37 +00:00

Good evening,

A strong job report, with Non Farm Payrolls at 197K against a consensus of 185K , gave positive market sentiment on US indices. The S&P is gaining 38.63 points at 2,088.55 (+1.88%) and Nasdaq Composite is at 5,134.38 (+1.92%), up 96.85 points. Yesterday EurUsd made the largest daily gain since 2009, and the catalyst was the ECB commitment that was below the expectations of the financial community.  Technically EurUsd, now trading at 1.0877 (-0.55%), made a multiple bottom in area 1.05 and it may consolidate above 1.1 soon, considering also that if reversal carry trade will happen the shared currency, as a funding currency, will show a negative correlation with equities. UsdJpy is trading at 123.17 (+0.47%) and GbpUsd is losing 37 pips at 1.5106 (-0.24%). UsdChf went below the parity and UsdCad is developing a short term trading range. AudUsd made a double top on the daily chart.

Crude Oil, after OPEC decided to keep unchanged the output, is sliding 1.07$ to 40.01 $/barrel (-2.60%). Gold is up 20.8$ at 1,082 $/oz (+1.96%), up for the second consecutive session, and Silver is doing even better at 14.51 $/oz (+3.04%).

Volatility came back, with all asset classes that increased sharply their daily range, an important factor for traders because trading strategies that work in a low volatility environment may be unsuccessful in nervous markets.

(19:30 GMT)