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Main » 2020 » February » 6 » Foreign exchange market to earn? Trading Ideas traders today 06/02/2020: Up to llar grows on strong statistics
13:17
Foreign exchange market to earn? Trading Ideas traders today 06/02/2020: Up to llar grows on strong statistics

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American continues to rise against the yen for a fourth day. In the Asian session Thursday, the USDJPY is trading just below 110.00 resistance, while retaining the potential to move higher. Once on the financial markets was reported that China and the United Kingdom are close to getting a vaccine against coronavirus infections, investor sentiment improved significantly, returning to the market's appetite for risk. Against this background, the demand for protective instruments decreased, allowing traders to once again focus on the classic fundamental background in the form of traditional macroeconomic reports.

 

 

AMarkets

 

 

That national statistics has become the main cause of the growth of the US currency in yesterday's trading. As it became known, the index of business activity in the US manufacturing sector amounted to 51.9 points, which is better than the forecast of 51.7 points. PMI index in the service sector rose to 53.4 points, also beating expectations of experts. More progress was recorded in the labor market.

 

According to the US National statistics agency ADP employment in the non-agricultural sector in January increased by 291 thousand. With growth forecast at 156 thousand. In addition, on Wednesday the US Senate put an end to the predictable lasted four months of the procedure of impeachment of Donald Trump. In contrast to the US statistics, stat. Data from Japan disappointed. Thus, the index of business activity in the manufacturing sector in January amounted to 48.8 points, which is worse than expected at 49.3 points. PMI in the service sector rose to 51.0 points compared to expectations of growth to 52.1 points. Tomorrow traders will be presented to the attention of official data on the US labor market - nonfarm payrolls. Given forecasts, traders will be another strong report, capable of leading to a further increase USDJPY pair.

 

BuyLimit 109,60 T USDJPY 111.20 SL 109.10

 

Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author Artem Deev trader analyst AMarkets . Traders community " Forex Special " is not responsible for any losses in the case of the review of materials

 

 

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