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Trade Idea Wrap-up: USD/CHF - Stand aside

As the greenback has risen again after brief retreat to 0.9688, suggesting recent upmove from 0.9259 is still in progress and may extend gain to 0.9785 (50% projection of 0.9259-0.9690 measuring from 0.9569 and 1.618 times projection of 0.9259-0.9506 measuring from 0.9384), then 0.9800, however, loss of near term upward momentum should prevent sharp move beyond 0.9835

Trade Idea Wrap-up: GBP/USD - Stand aside

Although the British pound has fallen again after brief bounce to 1.5276 in NY morning and near term downside risk remains for the decline from 1.5930 top to extend weakness to 1.5160-65 and possibly towards 1.5135-40 (61.8% projection of 1.5818--1.5335 measuring from 1.5437), however, loss of near term downward momentum should limit downside

Trade Idea Wrap-up: EUR/USD - Stand aside

Despite intra-day brief bounce to 1.1191, as the single currency has slipped again, suggesting near term downside risk remains for retest of yesterday's low at 1.1087, break there would extend recent selloff from 1.1714 top towards 1.1047-53 (1.618 times projection of 1.1714-1.1396 measuring from 1.1562 and 50% projection of 1.1714-1.1156 measuring from 1.1332 respectively)

Trade Idea Wrap-up: USD/JPY - Sell at 119.60

The greenback slipped again in NY morning and bearishness remains for the decline from 121.75 top to bring a stronger retracement of the rise from 116.16, then weakness to 118.50 would follow but reckon downside would be limited to 118.30 (61.8% Fibonacci retracement of 116.16-1221.75) and price should stay above 118.15-20

US Labour Market Still Solid
The August employment report was mixed but overall suggests further improvement in the labour market. In particular, the unemployment rate fell two notches to 5.1% (5.112% in unrounded terms) as household employment increased 196,000 and the labour force decreased by 41,000. At 5.1% the unemployment rate has now reached the

US August Payroll Employment up by 173,000
Payroll employment rose by 173,000 in August 2015. That was a smaller gain than the 218,000 increase that had been expected by markets but followed upwardly revised 245,000 increases in each of July (previously 215,000) and June (was 231,000). The unemployment rate, which is calculated from the separate household survey,

Canadian Employment Rose again in August, Unemployment Rate also Increased in the Month
Employment rose by 12,000 in August 2015, thereby building on July's mild 6,600 gain. The result defied market expectations for employment to fall by 5,000. The unemployment rate rose to 7.0% after holding at 6.8% for six consecutive months. The increase reflected a surge in the labour force of 52,000.

US Session: Orders and Options Watch
EUR: The single currency has remained under pressure and bids at 1.1110-15 were filled but buy orders are still noted at 1.1085-90, 1.1050 and 1.1020-25, buying interest should emerge around 1.0990-00 (stops below 1.0980). On the upside, offers are seen at 1.1190-00, more selling interest is tipped at 1.1220-25 and

Trade Idea: EUR/GBP - Hold long entered at 0.7300

Euro's retreat after meeting resistance at 0.7376 yesterday suggests further consolidation would be seen and minor support at 0.7262 needs to hold to retain prospect of another rebound, above said resistance would bring test of 0.7395 but break there is needed to signal upmove has resumed for retest of 0.7423.

Trade Idea: USD/CAD - Buy at 1.3155

The greenback has remained confined within recent established range and further choppy trading would be seen, however, reckon 1.3117 support would contain downside and bring another rise later, above 1.3300 would bring retest of last week's high at 1.3354. Once this resistance is penetrated, this would signal recent upmove has

Trade Idea Update: USD/CHF - Stand aside

As the greenback has risen again after brief retreat to 0.9688, suggesting recent upmove from 0.9259 is still in progress and may extend gain to 0.9785 (50% projection of 0.9259-0.9690 measuring from 0.9569 and 1.618 times projection of 0.9259-0.9506 measuring from 0.9384), then 0.9800

Trade Idea Update: GBP/USD - Stand aside

Although the British pound has fallen again after brief bounce to 1.5276 in NY morning and near term downside risk remains for the decline from 1.5930 top to extend weakness to 1.5170 and possibly towards 1.5135-40 (61.8% projection of 1.5818--1.5335 measuring from 1.5437), however, loss of near term downward momentum should limit downside

Trade Idea Update: EUR/USD - Stand aside

Despite intra-day brief bounce to 1.1191, as the single currency has slipped again, suggesting near term downside risk remains for retest of yesterday's low at 1.1087, break there would extend recent selloff from 1.1714 top towards 1.1047-53

EUR/USD Mid-Day Outlook
Intraday bias in EUR/USD remains on the downside as the fall from 1.1713 continues. Deeper decline should be seen to 1.0807 support. As noted before, the corrective rise from 1.0461 could have completed at 1.1713 already. Break of 1.0807 support will confirm this case and would likely extend the larger

Trade Idea Update: USD/JPY - Sell at 119.60

The greenback slipped again in NY morning and bearishness remains for the decline from 121.75 top to bring a stronger retracement of the rise from 116.16, then weakness to 118.50 would follow but reckon downside would be limited to 118.30 (61.8% Fibonacci retracement of 116.16-1221.75) and price should stay above 118.15-20

USD/CHF Mid-Day Outlook
No change in USD/CHF's outlook. Recent sideway pattern in is possibly developing into a triangle. From a near term angle, strong resistance would likely be seen below 0.9902 to limit upside. Meanwhile, strong support would be seen above 0.9256 to contain downside. A breakout is expected at a later stage.

USD/JPY Mid-Day Outlook
USD/JPY's fall from 121.62 resumed after brief recovery. Intraday bias is turned back to the downside for 115.55/116.38 support again. Overall, the corrective pattern from 125.85 is expected to extend lower in short to medium term. Sustained break of 115.55 will pave the way to next key support level at

Mid-Day Report: Dollar Rises on Overall Positive Job Data
Dollar rises in early US session on generally positive job data. Non-farm payroll report showed 173k growth in the job market in August, far below expectation of 220k. Nonetheless, July's figure was revised higher from 215k to 245k while June's figure was also revised up fro 231k to 245k. Unemployment

Weekly Focus: ECB to Extend QE Programme
Markets are trying to survey the extent of weakness in emerging markets, in particular China, and the spillover to developed markets. Data released this week could give the first indications. Chinese export figures for August will give a signal of demand weakness in emerging market Asia. August credit growth data will

Gold at Weekly Lows ahead of US Jobs Report
The all-important "NFP day" finally arrives and the market will soon have one of the most important indicators about the health of the world's largest economy. The marquee employment report should in turn indicate whether a 2015 rate hike is still on the cards, and if so when: September or

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