EU Bullet Report | Strong NFP, weak Dollar

  • Stock Markets ended Friday on a mixed footing as the NFP number for March was released at 215000 jobs added and average earnings showed an increase as well. On top of that, ISM manufacturing rose more than expected. Combined with Fed’s Yellen Speech last week, which expressed limited expectations for interest rate rises this year, these factors generally supported US and global equities on Friday.
  • GOLD and OIL: On the other hand, OIL’s rapid decline, following reports that Saudi Arabia will not join any freeze in its output without Iran and other major procurers, has kept the stock market rally in check. OIL fell from $38.30 to $36.30. GOLD has suffered steep losses despite a weak USD, as fund managers and traders shifted more assets to the stock market. Following NFP, GOLD dropped from $1230 to $1209 before stabilizing at $1216.
  • Currencies: Overall USD remains soft following the jobs report on Friday as expectations the FED will keep a defensive stance in regards to rates are still high, despite Friday jobs report and other data. Yellen said in a speech last week that slower growth abroad posed risks to the U.S. economy and justified a slower path for interest-rate increases. The WSJ Dollar Index, a measure of the dollar against a basket of major currencies, was up 0.09% at 86.62.
  • Data wise it’s a relatively quiet start to the week but we do have UK construction PMI, US factory orders and a couple of Central Bankers talking to keep the action going

The post EU Bullet Report | Strong NFP, weak Dollar appeared first on Forex.Info.

Source:: EU Bullet Report | Strong NFP, weak Dollar

About the Author
With over a decade of trading expertise and 100,000 fulfilled clients in 160 countries worldwide, easyMarkets will tick all your boxes whether you are a new or experienced trader, affiliate or introducing broker. [space height="20"] Trade 300+ markets including currencies, commodities, metals, vanilla options and indices from one place without the jargon, complicated offers and confusing terms! [space height="20"] Welcome to the exciting world of trading. Welcome to easyMarkets.

Related Posts

Leave a Reply