What's new

General ADP data is not as expected, US stocks tumbled, gold prices returned to the $1,500 mark

jerry0821

Member
Yesterday (2nd), the United States announced that the number of newly added ADP employment data in September was 135,000. Below the market expectations of 140,000 people, and the previous value of 195,000 people was revised down to 157,000, so the market is more worried about the impact of the US job market slowdown on the future economic situation of the United States, plus the United States obtained the World Trade Organization ( WTO) agreed to impose tariffs on US$7.5 billion of EU goods. European stock markets plunged, while the three major US stock indexes also fell sharply in the evening. Special attention must be paid to the US Dow Jones Industrial Index for the past two trading days. Has already plunged more than 3% (falling more than 800 points), which is the worst start-up trend since the 4th in 2008, which in turn boosted the demand for safe haven, and a large amount of funds poured into gold commodities again, once again stood at 1,500 US dollars / ounce The mark.
On the other hand, Yesterday (2nd) New York Fed President Williams said that the current US economy is mixed, and found that the economy is slowing down to some extent, but the US job market is still strong, with the current Federal Reserve (Fed) The interest rate policy does not need to be too worried. However, market analysts believe that this conversation is actually to appease the market, but if the economy declines, the Federal Reserve will continue to implement interest rate cuts.

Forex(外汇) - Technical Analysis (Gold XAUUSD):
1.png
Today's foreign exchange gold analysis (October 3) Early in the morning at 1499.2 US dollars / ounce, from the technical analysis, the 1-hour level observation was in line with yesterday's (2) forecast after the revised correction, the main reason for the US ADP employment data is lower than the market It is expected that the dollar will fall sharply and gold will rise strongly, so there is a chance to pull back and rise again.
At present, the pressure range above the short-term line is located at 1511~1512 USD/oz. In the downward direction, the initial support range is 1491~1492 USD/oz. The operation mentality is mainly short. The investors who want to enter the market for a short time can consider the price of 1493.5 US dollars. To the 1495 US dollars / ounce range of light warehouse buy, MT4 software set stop loss can be set to 1491.5 US dollars / ounce below.

Forex(外汇) - Technical Analysis (EUR/USD EURUSD):
2.png
Today's foreign exchange euro/dollar analysis (October 3) Early in the vicinity of 1.00997, from the technical analysis, the 1-hour level observation was in line with yesterday's (Japan) forecast shocks pulled back after the big rise, the main reason is that the dollar fell sharply, making The euro has shown a passive upward trend, so there is a chance to pull back the correction and stabilize again.
At present, the pressure range above the short-term line is located at 1.09750~1.09800, in the downward direction, the initial support range is from 1.09400~1.09450, and the operating mentality is mainly short. Investors who want to enter the market for a short time may consider buying in the range of 1.09480 to 1.09510. The MT4 software sets the stop loss point to be considered to be set below 1.09430.

Forex(外汇) - Technical Analysis (GBP/USD GBPUSD):
3.png
Today's foreign exchange GBP/USD analysis (October 3) Early in the vicinity of 1.22947, from the technical analysis, the 1 hour line level observation trend began to enter the convergence triangle range shock, if there is a breakthrough above the pressure will rebound, so there is a chance to shock After finishing, it will rise again.
At present, the pressure range above the short-term is located at 1.23450~1.23500, the downward direction, the initial support range is 1.22700~1.22750, and the operational mentality is mainly short. Investors who want to enter the market for a short time may consider buying in the 1.23000 to 1.23050 range. The MT4 software sets the stop loss point to be considered to be set below 1.22880.

Forex(外汇) - Technical Analysis (NZD/USD NZDUSD):
4.png
Today's foreign exchange NZD/USD analysis (October 3) Early in the vicinity of 0.62690, cut from the technical analysis, 1 hour line level observation yesterday (2nd) trend in line with the forecast rebound to the blue circle in the picture, currently encountering the above pressure The range will fluctuate, so there is a chance to pull back and stabilize again.
At present, the pressure range above the short-term line is located at 0.62800~0.62830, in the downward direction, the initial support interval is 0.62400~0.62430, and the operation mentality is mainly short. The investors who want to enter the market for a short time can consider buying in the 0.62550 to 0.62580 range. The MT4 software sets the stop loss point to be considered to be set below 0.62500.

Forex(外汇) - Technical Analysis (Nasdaq Index Nas100):
5.png
Today's foreign exchange Nasdaq analysis (October 3) Early in the morning near 7539.5, cut from the technical analysis, 1 hour line level observation trend in line with yesterday (2nd) forecast fell below the important neckline, a sharp decline, mainly by the United States mining ADP The employment data is lower than expected, and the United States will impose tariffs on the EU's 7.5 billion US dollars of goods, causing the European stock market to fall sharply affecting the trend of US stocks, so there is a chance to rebound slightly after a short-term decline.
At present, the pressure range above the short-term line is located at 7630~7640 points, the downward direction, the initial support interval is 7500~7510 points, and the operation mentality is mainly short. The investors who want to enter the market for a short time can consider buying in the 7550 to 7560 range. Into, MT4 software set the stop loss point can be considered to set below 7520.

Today's foreign(外汇) exchange key data:
Data Name / Importance / Pre-Value / Expectation
1. France September service industry PMI final value / three stars / 51.6 / 51.6
2. Germany's September service industry PMI final value / three stars / 52.5 / 52.5
3. Eurozone September service industry PMI final value / three stars / 52/52
4. UK September service industry PMI / three stars / 50.6 / 50.3
5. Eurozone August PPI monthly rate / three stars / 0.2% / -0.3%
6. Eurozone August retail sales monthly rate / three stars / -0.6% / 0.3%
7. Number of layoffs in the US challenger in September (10,000 people) / three stars / 5.348 / ---
8. The number of people claiming unemployment benefits in the US until September 28 (ten thousand people) / four stars / 21.3 / 21.5
9. US September Markit service industry PMI final value / three stars / 50.9 / 50.9
10. US August factory order monthly rate / three stars / 1.4% / -0.2%
11. US September ISM non-manufacturing PMI / three stars / 56.4 / 55

For more information on Forex(外汇) and MT4, please click here to watch.
 
Last edited by a moderator:
Nice one... With the negative ADP report there is high tendency that the NFP report will follow suite though ADP is not a reliable indicator for nfp
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Similar threads

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)

Top
AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock    No Thanks