The USD is going to be volatile on Friday, September 6, as America will release Nonfarm Payrolls data at 15:30 MT time.
Daily Market Analysis
Last week, EUR/NZD got rejected from the resistance at 1.7590 thus failing to reach new highs.
An attempt of EUR/GBP to break higher earlier this week has been rejected: the advance stopped at 0.9150.
Brent oil has been trading sideways in the 62.00/58.00 area since the beginning of August.
USD/TRY has formed a big “shooting star” candlestick on the W1 last week. A similar formation is visible on the D1.
The current risk aversion is encouraging the safe-haven demand for the JPY, while the weakness of the euro area’s economy is hurting the EUR.
GBP/CAD tried to recover in August, but its progress wasn’t very impressive. A “Dark Cloud Cover” pattern was formed on the W1.
Pay attention to the currency pair USD/ZAR. It has been consolidating between 15.10 and 15.50 since the start of August.
EUR/NZD has recently made a number of attempts to approach 0.76 but all of them failed.
Although both the AUD and the NZD suffer versus the USD, it seems that, for now, the Australian currency is a bit stronger than New Zealand’s one.
USD/MXN had a very bullish August. The pair is currently testing the resistance line connecting the highs of 2017 and 2018 at 20.12.
XAU/USD has broken above the 50% Fibo of the 2011-2015 decline at 1,480 and the previous August high at 1,535.