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US and China Reach Deal in Principle

Real Time News
  • Here is the $USDCNH's reaction to further reports that the US and China have come to an agreement in terms on the Phase 1 deal. Biggest drop since Aug 13 and below the overbearing 7.00 mark https://t.co/YodgpERi5K
  • I won't look a gift horse in the mouth, but didn't they say they reached a deal in principal when they first announced the Phase 1? https://t.co/cvK7295ZxI
  • A close above 82.76 highlights more bullish market and opens the door for buyers to rally $CADJPY towards 83.65. Get your technical analysis from @malkudsi here:https://t.co/ZiZb6DN8mJ https://t.co/q2R55UhkjB
  • When is a break not a break? When there is neither conviction nor liquidity to carry follow through. $DXY https://t.co/RUtosesJTV
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.28% Silver: 0.21% Gold: -0.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/hsfV8baaID
  • US reaches agreement in principle with China, awaiting signoff by Trump -BBG
  • BOC's Poloz: - Finalizing USMCA is critical for investment in Canada $CAD
  • Representative Hoyer says House will vote on USMCA next week $CAD $DXY $MXN
  • BOC's Poloz: - Household debt level not sustainable - Fiscal policy will be strongest during low rates $CAD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.68%, while traders in France 40 are at opposite extremes with 76.29%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/V7B7TWZiUI
Webinar: Start of Month, Quarter Yields Fresh Scalp Opportunities

Webinar: Start of Month, Quarter Yields Fresh Scalp Opportunities

2016-04-04 15:08:00
Michael Boutros, Technical Strategist

Talking Points

The first full week of April / 2Q trade has us focused on the dollar crosses on the back of Friday’s Non-Farm Payrolls report. Although the report showed an uptick in the unemployment rate, the move came alongside a braodening in the labor force participation rate- a positive development for the U.S. economy. Still, its important to remember that the Fed’s main concern at this point remains the inflationary outlook and as such, we do not expect Friday’s print to have a lasting impact on price.

We’re looking for USDOLLAR strength early in the week with the GBPUSD & USDCAD setups in play. AUDUSD will be of particular interest heading into tonight’s RBA interest rate decision after the pair reversed off slope resistance on Friday. We also discussed key levels on CADJPY, EURGBP, Crude Oil & the SPX heading into the monthly open. Continue to track these setups and more throughout the week-Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount!

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Relevant Data Releases

Webinar: Start of Month, Quarter Yields Fresh Scalp Opportunities

Check out SSI to see how retail crowds are positioned as well as open interest heading into March trade.

Other Setups in Play:

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFX and Tuesday, Wednesday & Thursday’s on SB Trade Desk at 12:30 GMT (8:30ET)

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