FOREX, DAILY ANALYSIS

Technical Analysis & Market Review 6th November 2015
– American Session


General Market News

Investors were on their toes today as it is U.S. jobs day and they were biding their time until its release as they speculated that if today’s Nonfarm Payrolls growth linger close to the projected 185,000, Federal Reserve will be able to press ahead with its first interest rate rise since 2006. It looks like this is the case since employment in October surged the most this year with the addition of 271,000 jobs, wage growth accelerated and the jobless rate fell to 5.0 percent. U.S. treasury yields ascended to their highest level in almost four months just before the Nonfarm Payrolls release, forecasting this possible outcome. European industrial production forfeited causing European stocks to fall for a second day. German industrial production unexpectedly tumbled in September diving 1.1 percent from August and U.K. industrial production declined 0.2 percent from a month earlier. As equities recover from a $5 trillion rout, China will remove one of its key measures of support for the stock market by lifting a five-month freeze on initial public offerings by the end of the year. This action is base on the bullish rally Chinese market had this week gaining up to 6.1 percent.......