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US and China Reach Deal in Principle

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  • 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
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  • US reaches agreement in principle with China, awaiting signoff by Trump -BBG
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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
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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

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