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breaking news UK labor market report on the agenda today

The Dollar is slightly lower on the day after a slight retreat to start the week yesterday. Yields followed a decline back then, but are now rising, although the greenback isn’t really moving too much.

Stocks were again more mixed with technology lagging, although US futures are indicating a slightly better tone at the moment. S&P 500 futures are up 0.4% and Nasdaq futures are up 0.6%, while Dow futures are up 0.3%.

Technical data is still a key part of the story in my view and for now EUR/USD is maintaining at least one weekly break below 1.0400:

Meanwhile, AUD/USD is aiming to rally back above 0.7000 as buyers also break above its 200 hourly moving average at 0.6989. The level of the numbers will be a major pivot for sentiment in trading this week.

Elsewhere, things are getting interesting for oil as price looks for a technical break from the wedge pattern I highlighted late last week here. The price is knocking on the door of the $114-$115 region, with the March highs around the $115.37-$116.61 region being the next key focus.

Going forward, the usual push and pull in market flows will continue to dictate trading sentiment, with risk sentiment being a key factor in that direction. There won’t be much in Europe to distract from that until we get to the US retail sales data and Fed Chairman Powell’s speech on inflation later. during the day.

06:00 GMT – UK April claimant numbers change
06:00 GMT – UK March ILO unemployment rate, employment change
0600 GMT – UK average weekly earnings in March
09:00 GMT – Second estimate of eurozone Q1 GDP

That’s all for the upcoming session. I wish you all the best days ahead and good luck with your trading! Stay safe there.


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