US Philly Fed Manufacturing Index: Philadelphia-area manufacturing activity weakened from 43.3 in February to 32.8 in March, but still projecting growth. Economists anticipated a larger drop to 30 points. The decline followed an unusually strong in February. New orders inched up to 38.6 in March from 38.0 in February, while the shipments index increased to 32.9 from 28.6. The employment index also expanded to 17.5 in March from 11.1 in February, reaching its highest level since November of 2014. The manufacturing index is expected to decline to 25.6 in April.
US Unemployment Claims: The number of Americans filing new claims for unemployment benefits declined unexpectedly in the week ended April 8, reaching 234,000. The reading suggests the labor market remains robust despite lukewarm job growth in March. Claims have remained below 300,000 for 110 straight weeks the longest stretch since 1970 when the employment market was much smaller. The four-week moving average of claims declined by 3,000 to 247,250, indicating the slowdown in Mach was only temporary. The number of new claims is expected to reach 241,000 this week.
NZD
Philly Fed Manufacturing Index
NZD
Unemployment Claims
- EURUSD
Update: The pair managed to break through the level of 1.0680 which opens the door for further upward movements during the day that the pair may reach the level of 1.0750 followed by 1.0800 during the day. This is conditioned by the continuation of trading above the level of 1.0680 along with the down side of the ascending channel. Having the pair traded within the ascending channel shown on the chart may seem very bullish, but there is nowhere to enter the market at the time. So, we are waiting for the pair to break through one of the following levels: Resistance: 1.0680 – Support: 1.0560. Then there should be a strong movement if one of them is broken.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.0730 ▪-1.0700 ▪ 1.0800 |
▪ 1.0680 ▪-1.0500 ▪ — |
We remain bullish as long as the pair is traded above the downside of the ascending channel shown on the chart. |
- GBPUSD
As could be seen on the chart that the pair is traded above a strong support level around 1.2670 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.2800 during the day.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2800 ▪-1.2750 ▪ — |
▪ 1.2600 ▪ 1.2670 ▪ — |
We remain bullish as long as the pair is traded above the level of 1.2670 |
- GOLD
The gold is traded above a strong support level around 1273 so we believe that as long as it is traded above it, it is highly recommended to go long targeting the level of 1280 followed by 1290 during the day. What can also support this scenario is the continuation of trading above the level of 1273.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1280 ▪ 1290 ▪ 1300 |
▪ 1273 ▪ 1270 ▪ 1268 |
We remain bullish as long as the pair is traded above the level of 1273. |
- AUDUSD
Update: Yesterday’s target was hit. For today, the pair is facing strong support levels around 0.7470 – 0.7500 so we believe that as long as the pair is traded above them, it is highly recommended to go long targeting the level of 0.7550 during the day.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7650 ▪ 0.7600 ▪– |
▪ 0.7500 ▪ 0.7470 ▪ — |
We remain bullish as long as the pair is traded above the level of 0.7470 |
- USDCAD
The pair is facing a strong support level around 1.3450. We can go long targeting the level of 1.3500 during the day as long as the pair is traded above the level of 1.3450. On the other hand, if the pair managed to break through the level of 1.3450 then the door would be open for the pair to reach 1.3400 during the day.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3500 ▪ 1.3550 ▪ — |
▪ 1.3450 ▪ 1.3400 ▪ — |
We remain bullish as long as the pair is traded above the level of 1.3450 |
