US Wrap
US markets were little changed yesterday after seeing volatility increase over the past week.
Once again the USD remained strong and this is keeping pressure on the majors to some degree.
For the last week, we’ve all been watching closely as the likes of Gamestop and SILVER has been on a wild ride, with Reddit users doing their best to put the big guys to the sword. For the time being, that appears to have faded and prices are falling back to earth.
Meanwhile, BITCOIN and the cryptos have been making a bit of leg higher while GOLD has followed Silver lower.
The Data Agenda
The ADP employment data was a little more promising than many had hoped yesterday and this is a positive sign for Friday’s jobs number.
Today, we will look to US jobless claims which will be interesting given the ADP numbers, however, most attention will be on the BOE.
That said, the private central banks are all out of bullets and they are now only really able to print money – a clearly unsustainable strategy. Interest rates are expected to remain at 0.1%.
Forex Signal Update
The FX Leaders Team we also have five open signals, mostly in the majors, so keep watching the forex signals page as there will be a lot of activity on Thursday.
AUD/USD – Active Signal
The AUD/USD trending lower and we are short looking for more downside.
USD/JPY – Active Signal
The [[USD/JPY] is still battling the 105.00 level as mentioned yesterday and we are hoping for this to hold up.
Cryptocurrency Update
While BTC is strong, most of my attention has been on ETH Ethereum, had been setting up in a very bullish chart pattern and as is often the case in the cryptos, broke out strongly.
We‘ve seen $1400 break and price is now testing $1700.
Go to the news source: Forex Signals Brief for Feb 4: Short Squeeze Fades
