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  • Forex Market Recap:
    German industrial production m/m: -0.1% vs. 0.6% expected, -0.5% previous
    German trade balance: €21.3B vs. €21.2B expected, €21.3B previous
    French budget balance: -€10.8B vs, -€67.8B previous
    French industrial production m/m: -2.0% vs. -0.2% expected, 0.2% previous
    U.K. industrial production m/m: 1.3% vs. 1.5% expected,…[Read more]

  • The USDJPY moved to a high of 107.05ish and backed off. Remember the 107.00 option strike. We currently trade 106.84 which is not far from the level before the number.

  • (USD) Average Hourly Earnings (YoY)
    Worse than expected
    2.9% Previous
    2.8% Consensus
    2.6% Actual

  • (USD) Labor Force Participation Rate
    Better than expected
    62.7% Previous
    62.5% Consensus
    63.0% Actual

  • (USD) Unemployment Rate
    Worse than expected
    4.1% Previous
    4.0% Consensus
    4.1% Actual

  • Canadian Feb jobs data now out 9 March
    -88.0k prev
    unemployment rate 5.8% vs 5.9% exp/prev
    full time employment change -39.3k vs 49k prev
    part time employment change 54.7k vs -137k prev

  • USD/CAD is showing slight losses in the Friday session. In the North American session, USD/CAD is trading at 1.2878, down 0.15% on the day. Employment data will be in focus on both sides of the border. Canada releases employment change, and the US publishes wage growth and nonfarm payrolls.

    Data due in 8 Mins Now…

  • Heads Up: Data coming out in 20 Mins. High volatility expected.
    CAD Employment Change
    CAD Unemployment Rate
    USD Average Hourly Earnings m/m
    USD Non-Farm Employment Change
    USD Unemployment Rate

  • Market Recap:

    Japan’s household spending up by 2.0% vs. 1.1% decline expected, 0.1% dip in December
    Japan’s average cash earnings remain at 0.7% in January
    China’s new loans edge down from 8900B CNY to 839B CNY in February
    China’s CPI (y/y) up by 2.9% vs. 2.5% expected, 1.5% previous
    Japan makes no changes to monetary policies in March
    M…[Read more]

  • Forex Market Recap:
    Swiss jobless rate: 2.9% as expected vs. 3.0% previous
    German factory orders m/m: -3.9% vs. -1.8% expected, 3.0% previous
    ECB announced no changes to current monetary policy
    ECB maintained refinancing rate at 0.00%
    Marginal lending rate maintained at at 0.25%
    Likewise, deposit rate maintained at -0.40%
    QE extension until…[Read more]

  • Trump on tariffs – USD
    Trump says he will announce steel and aluminum tariffs at 2030 GMT
    Says will be fair and flexible but protect American workers
    He’s already announced the decision, I assume he means he will announce the details but we will have to wait and see.

    Separately, Trump says he still likes Gary Cohn and said he might come back to…[Read more]

  • Commodities Updates
    Gold 1,322.50 -5.10 -0.38%
    Silver 16.510 +0.016 +0.10%
    Copper 3.083 -0.053 -1.69%
    Crude Oil WTI 60.74 -0.41 -0.67%
    Brent Oil 64.19 -0.15 -0.23%

    Stronger dollar weighting on commodities..

  • ECB Draghi’s press conference Q&A now underway:

    says missing statement sentence was first introduced in 2016 so all in context
    does not signal change in expectations or reaction function
    decision to remove was unanimous
    little discussion over other possible changes
    Draghi’s tempering tones helping to push euro a little lower again.…[Read more]

  • EUR/USD – Fellows the major pair is testing support at 1.2325. For your info, the reaction came after the ECB decided to keep the rate on hold.

  • Heads up: BOC Gov Poloz is due to speak at the unveil of the new $10 bank note, in Halifax in 15 mins.

  • US Indices Updates:
    S&P 500 Futures 2,729.00 +5.75 +0.21%
    Nasdaq Futures 6,952.25 +27.75 +0.40%
    Dow 30 24,839.51 +38.15 +0.15%

  • Gold – Key Trading Levels
    R3: 1349.87
    R2: 1342.61
    R1: 1338.13
    Pivot Point: 1330.87
    S1: 1323.61
    S2: 1319.13
    S3: 1311.87

  • USD/JPY – technically, the price fall in the Asian and early European session did find support buyers against the 100 hour MA. That level will be a key barometer on the downside.

    On the topside, a ceiling is forming between 106.17 and 106.22.

    The 38.2% retracement on the hourly is at 106.17 and swing highs today and yesterday stalled at…[Read more]

  • Gold – Fellows, gold is testing 1322 for the 2nd time now making it a Double Bottom pattern. Keep an eye on it as the market typically bounces back from these levels.

  • EUR/GBP – Looking at the hourly chart, the move higher took the price above the swing high from March 6th and March 2nd at 0.8943 and 0.8951 respectively but failed (those levels are now resistance targets). Before the last few hours, the price had traded above and below the 100 hour MA. That MA is now trying to hold support. A move below is more…[Read more]