USD plummets; non-farm payrolls to be released on October 22

<p>Little moves overnight after huge rallies in risk trades yesterday, with the US kicking the can down the road until next year, and the QE […]</p>

Little moves overnight after huge rallies in risk trades yesterday, with the US kicking the can down the road until next year, and the QE tapering looks like it will not be happening this month due to the disruption in data being published. This didn’t give the USD much support as it plummeted, seeing rises of over 200 pips in GBP/USD and over 100 in EUR/USD. The market can expect more issues in the coming months as the US tries to come to an agreement.

No news data out today of any worth. But one thing to make note of is that non-farm payrolls are now to be released next Tuesday, 22nd October.

 


EUR/USD

Supports 1.3650 1.3620 1.3550 | Resistance 1.3710 1.3740 1.3780

 


USD/JPY

Supports 97.80 97.60 97.00 | Resistance 98.15 98.50 99.00

 


GBP/USD

Supports 1.6140 1.6050 1.5980  | Resistance 1.6240 1.6260 1.6300

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.