“I’m Just Getting Started.” Trump is Confident of Keeping His Promises

The NFP beat expectations on Friday. Yet again, the data from ADR differ from the NFP. According to key indicators, there is a significant rise in employment in the hospitality and restaurant business. There is also a significant influx in manufacturing, education, and health care. Wages are going up which, analysts believe, is related to new hires by employers. Trump commented on the labor market data in this way: “The numbers were great, I’m just getting started.” Meanwhile, analysts note that keeping his promise of adding 25 million new jobs in 10 years will require adding 208,000 per month. Technically, the euro broke through the 9-day EMA bottom up on Friday, which gives bears an opportunity – a bearish engulfment formed on the candlestick chart – but it is still early to say how much they will be able to take advantage of this opportunity. Additional confirmations are required to open shorts.

According to the GBP/USD pair, this confirmation was apparently found. Technically, the pound sterling broke through the moving average top down, and the MACD crossed the signal line top down, which provides an opportunity for short-term down trading. The target might be 1.2830. Meanwhile, data published by the Old Lady on real estate debt somewhat surprised lending organizations. There has been a significant rise in past-due debt since the end of 2015. The time has therefore come for the Financial Services Authority to verify that the data provided by the BoE are correct. Fundamentally, this may also put additional pressure on the British pound.

Russia's consumer price index released on Friday fell to 3.9%. We should now apparently expect the Bank of Russia to further soften its monetary and credit policy. Also on Friday, the EU decided to expand sanctions against the RF. Well, as they say, “Give me the man, and I’ll find you the crime.” Despite the overall negative outlook for the ruble, it managed to settle at 70.50 Euros on Friday. Technically the resistance is at 72.40, where a 38.2% Fibonacci correction is located. The support is at 67.40.

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