Further comments by Turkish president Erdogan – Focus on the big picture instead – Increasing production, exports, employment is the best response ForexLive
USD/TRY back above 6.00 ForexLive The pair is currently up to a high of 6.08 again. It’s slowly turning back into the “blink and you miss it” mode. 6.12 now.
Turkish president Erdogan is speaking in Bayburt If that is his best response to the situation, then there is going to be further pain to come after this I reckon.
Sellers defend levels identified by the near-term Fib level ForexLive This is the same chart I pulled up earlier in the day . As mentioned then, the 1.1570 level is an area of interest for sellers and it continues to look that way in trading so far. We did see a breach of that level…
100 hour MA at 111.125 The USDJPY has had a very volatile up and down day. It is not pretty. But near the lows, the pair stalled near a swing low from July 26 at 110.58 (the low reached 111.604). A lower trend line was 4-5 pips lower. So support held.
Full time down. Part time lead the job gains The USDCAD tumbled after the net change in employment rose a greater than expected 54.1K vs 17.0K expected and the unemployment rate fell to 5.8% vs 5.9% (and 6.0% last month). The not so good is that the full time jobs fell and part time jobs…
Not sure how much steel and aluminum Turkey is exporting to the US Fresh lows for the lira. The most notable part of the tweet might be that Trump is saying that relations with Turkey aren’t good. The timing is ugly as well with Trump hitting Turkey when its most-vulnerable.
US CPI for the month of July The US CPI data for the month of July came in mostly as expected. The only “surprise” was core at 2.4% vs 2.3% expected. That may have been a rounding.
Highlights of the July Canadian employment report Earnings have fallen from +3.9% two months ago and that helped to quickly erased the kneejerk down to 1.3028 from 1.3090. The full-time/part-time split is also less-than-ideal and the market picked up on it quickly.
Its the end of the week so traders will be eyeing the close The EURUSD is lower once again and trading near the day’s lows ahead of the CPI. The low for the day reached to 1.1431 in the early European session. The low just reached 1.1439.