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Eightcap Trade Zone Weekly Market Wrap | NFP, Fed Comments, Forex, Gold, Crypto, & more

Published: 02.12.2022
by Joseph Jeffriess

Welcome to this week’s wrap-up traders. Instead of focusing on one market, we have done a walk-around in today’s video, taking a look at some of the key data, comments, and news that hit the market. We have also done an analysis walk-around, looking at FOREX, stocks, indices, oil, gold, and cryptocurrencies.

Another week that was mainly influenced by the fed. Powell’s comments early Thursday morning sent risk assets jumping and the USD lower. The message from the fed was that rates, as early as December, could start to increase by 25 pts.

It’s interesting as a few semi-hawkish comments emerged on Thursday into Friday. Still, it was little to help the USD as it finally broke its ST support level setting off a new continuation of the downtrend. As expected, the AUD, EUR, and GBP all rallied, seeing solid weeks, and gold starred having a great week.

Stock indices soared Thursday morning but failed to follow up Thursday night, and we are wondering if buyers are waiting for today’s US employment data.

Crypto markets trade higher from Thursday morning. Promising signs in the short term, but they still have a lot of ground to reclaim after the FTX sell-off.

As noted, the week ends with US and Canadian employment data. The data is due at 8:30 am EST, and as we have both being released at the same time, we have reviewed the USDCAD as it can see some movement on the double data release.

Weekly Wrap Analysis

Have a great weekend and good trading.


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