|Day's Range||16.470 - 16.645|
Risk factors were primarily responsible for the movement in the safe-haven Japanese Yen, while the commodity-linked Australian and New Zealand Dollars were underpinned by sharply higher crude oil prices. The Aussie and Kiwi were also supported by a surprise improvement in Chinese manufacturing activity.
Filipina sprinter Kristina Marie Knott defeated Vietnam's "Queen of Speed" Le Tu Chinh on Saturday to take her Southeast Asian Games 200m track title in the first night of track and field action at the stadium in New Clark City. Pole vaulter Ernest Obiena added to the Philippines' medal tally with a Games record jump of 5.45 metres -- enough to qualify him for the Tokyo Olympics next year. The host nation are in complete control of the medal table after a week of competition at the biggest-ever SEA Games, with 85 golds -- streets ahead of Indonesia's 50 and Vietnam's 43.
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The US dollar fell during the week but did see some positivity on Friday after the stronger than anticipated jobs figure. It makes sense at this point that we continue to see a lot of sideways action, but we are on the verge of some type of break out.
The British pound broke out against the Japanese yen during the week, finally slicing through the resistance barrier that had been keeping it down for quite some time. At this point, it looks as if we are ready to continue going higher as the election looms.
The Australian dollar has broken higher during the trading week, as we continue to see moves to the upside. There is a massive amount of support underneath at the 0.67 level as we have formed a bit of a “double bottom” in that area, and as a result now we have to question whether or not a trend change is about happen.
The US dollar has recovered against the Japanese yen after initially falling on Friday, due to the stronger than anticipated jobs number. Beyond that, we also have the so-called “golden cross” getting ready to occur.
Canada's main stock index rose on Friday, boosted by energy shares after OPEC and its allies agreed to supply cuts, while upbeat comments from U.S. President Donald Trump on a trade deal with China also helped sentiment. * Crude prices rose sharply as a meeting of OPEC and its allies agreed to extend output cuts by 500,000 barrels per day in early 2020, sending the energy sector surging 3%. * The additional cuts by the Organization of the Petroleum Exporting Countries and allies including Russia - a grouping known as OPEC+ - will last throughout the first quarter next year.
Olympic champion Joseph Schooling lived up to his billing at the Southeast Asian Games on Friday, claiming two golds in the pool in the Philippines. The Singaporean swimmer clinched his pet 100m butterfly -- which he famously won ahead of Michael Phelps at the Rio 2016 Olympic Games -- in a time of 51.84 seconds, pipping his countryman Zheng Wen Quah. Schooling, who won six gold medals at the last SEA Games in 2017, bounced back after losing his 50m title on Thursday, and solidified his standing as the region's top swimmer by helping his nation win the 400x100m freestyle relay.
Investing.com -- Gold prices tumbled on Friday after a stronger-than-expected U.S. labor market report sent risk assets soaring and drained money from havens.
It’s Wednesday morning, so toddlers in the Tammi nursery in Helsinki, Finland, are excited—their communal grandparent, or “kylämummi,” is here. This classroom’s “kylämummi” is Marjatta Ahonen, a 71-year old retired psychotherapist. From 2006, MLL has run a program encouraging older people to volunteer as communal grandparents.
Reuters reported that oil producers led by Saudi Arabia and Russia reached a deal in principle on Thursday to cut output by an extra 500,000 barrels a day in the first quarter of 2020 but stopped short of pledging action beyond March.
Natural gas markets rally during the trading session on Thursday again, using the $2.40 level as a bit of a base. Beyond that, we are bouncing from a significant trendline.
Based on the early price action and the current price at 1.1098, the direction of the EUR/USD the rest of the session on Thursday will be determined by trader reaction to the short-term Fibonacci level at 1.1102.
Silver has been busy this week, with strong swings in both directions. It has been a quiet session on Thursday, but with the U.S. releasing key employment data on Friday, we could see further volatility before the end of the week.
The USD/JPY is building a pullback after strong bearish momentum broke below the short and long-term moving averages, which seems to be a bearish wave C (purple).
Silver markets initially tried to rally during the trading session on Wednesday, as we continue to see a lot of noise when it comes to risk appetite. The 50 day EMA has also made its presence known as well.
Today’s ISM services PMI report is expected to come in at 54.5, down slightly from 54.7. This report could drive gold prices lower if it comes in well above expectations.
Based on the early price action and the current price at 1.1108, the direction of the EUR/USD the rest of the session on Wednesday is likely to be determined by trader reaction to an uptrending Gann angle at 1.1101.
Investing.com -- Gold prices retreated from a four-week high on Wednesday after reports that stemmed some of the damage to risk appetite done by President Donald Trump's comments a day earlier on the trade outlook.
The gold market has been in no hurry to do anything lately, which is fully expected at this stage of the calendar, observes gold mining specialist Brien Lundin, editor of Gold Newsletter.
The British pound is hovering around the 1.33 line on Wednesday. We could some movement from GBP/USD in the North American session, with key services and employment reports out of the U.S. The Australian dollar is lower after GDP missed the forecast.