The U.S Non-Farm Payrolls Show Us the Turn of the Market

Yesterday（Dec.04） USD index dropped sharply at 89.00 and ranged from 88.15 to 89.06. In the afternoon the whole American market was fluctuate and the same thing happened to foreign currencies market, all the eyes are staring eagerly for the coming-out of the U.S non-farm payrolls tonight.

As what the European Central Bank declared yesterday the interest rates would still remain the same as before. The President of ECB Mario Draghi said in the following press conference that expecting too high economy and inflation is a wrong idea. He also predicted that the plan of buying assets would at least last two years, meanwhile, the entire level of Balance Sheet this year would return to what it was in the beginning of year 2012. Buying assets and TLTRO would have great influence on the Balance Sheet. He revealed that ECB would revaluate the stimulus measures in the next quarter and altered it a little bit in the beginning of next year but was not sure about adapting the new quantitative easing, which means ECB will no longer thinking about releasing the new stimulus measures by the end of this year. The number of Americans submitting claims for unemployment insurance is 2.362 millions which ranked higher than the previous number 2.362 M and the anticipated number 231.8 M. precious metal index and non-U.S dollar index rebounded upwardly ahead while EUR/USD bounced back from 1.2377 and reached 1.2455 as the highest daily record, the length was almost 180 points. Gold spot get the support at 1.2377 with price $1200 / Ounce but met resistance as $1213 / Ounce.

Today’s big event is the U.S Non-farm Payrolls is about to be released officially. Those figures may play a important role in leading the way.

Gold spot
Resistance : 1213 1225
Support: 1200 1195

Silver spot
Resistance : 16.50 17.00
Support: 16.00 15.80

EUR/USD
Resistance : 1.2430 1.2430
Support: 1.2350 1.2300

USD/JPY
Resistance : 119.90 112.30
Support: 119.30 118.80

GBP/USD
Resistance : 1.5715 1.5800
Support: 1.5650 1.5620

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