Bullet Report : Top 5 Things Happening in the Market Today

Top 5 Things to Know Before You Start Trading

This Monday the USD is trading higher following Friday’s NFP report, while the GBP is lower. Oil and gold hold back on gains.

1 – USD Higher Following Upbeat NFP

US labor markets remained solid as Friday’s US Non-Farm employment increased by 209k, well beyond expectations of 182k. The unemployment rate stayed at a 10 year low of 4.3%. US Dollar (USD) had a strong rebound and the US Dollar Index jumped over 100 points during the session. US equity markets continued a bullish trend. Dow Jones made a new record high of 22092. Although we had a better NFP figure, markets are still focusing on the fiscal policy of US President Donald Trump and future Federal Reserve (Fed) monetary policy changes.

2 – GBP Lower Following NFP Report

Sterling (GBP) fell on Friday and is poised to post its biggest two-day decline in seven weeks after a strong U.S. July NFP report prompted investors to cut some of their heavy bets against the USD versus a basket of currencies. The GBP fell 0.7 percent after the data to $1.3038. Over the past two days, it has declined 1.4 percent, its biggest two-day losing streak since June, 12th according to Thomson Reuters data.

3 – Oil Prices Remain Below Benchmark

Crude Oil prices are still hovering below the benchmark of $50 a barrel. Ongoing discussion of production cuts will be the major factors to influence the Oil Price. U.S. crude slipped 0.3 percent to $49.43 a barrel, after rising 1.1 percent on Friday.

4 – Gold Hold Back on Losses

Gold steadied as the USD surrendered some of its gains, but it remained under pressure. The precious metal was marginally lower at $1,257.27 an ounce, extending Friday’s 0.8 percent loss.

5 -Eventful Week Ahead

Key events of the week: US Crude Oil Inventories on Wednesday, The Reserve Bank of New Zealand (RBNZ) will release cash rate on Thursday. The U.S. Consumer Price Index (CPI) will be released on Friday.

The post Bullet Report : Top 5 Things Happening in the Market Today appeared first on Forex.Info.

Source:: Bullet Report : Top 5 Things Happening in the Market Today

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