Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
US Dollar regains poise amid US jobs blowout.
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver continuous to stand below 23.6% retracement area. Bearish pressure is growing.
EU Market View
US equity futures hold on to post-NFP gains at the reopening of this week's futures trading amid holiday-thinned conditions with Australia, New Zealand, China, Hong Kong, Taiwan, UK and European Markets all closed on Monday. Global stock prices rose to a 1 1/2-month high on Monday after data showed a surge in U.S. employment while U.S. bonds came under pressure on worries the Federal Reserve may bump up interest rates sooner than it has indicated.
The U.S. labour department said on Friday that nonfarm payrolls surged by 916,000 jobs last month, the biggest gain since last August. That was well above economists' median forecast of 647,000 and was closer to markets' whisper number of one million. Data for February was also revised higher to show 468,000 jobs created instead of the previously reported 379,000. While employment remains 8.4 million jobs below its peak in February 2020, an accelerating recovery raised hopes that all the jobs lost during the pandemic could be recouped by the end of next year. The prospects of a return to a full employment, in turn, is raising questions about whether the Fed can stick to its pledge that it will keep interest rates through 2023.
Oil prices slipped on Monday, paring strong gains made in the previous session that was driven by the decision by OPEC+ to gradually ease some of its production cuts between May and July.
EU Key Point
- Germany reports 8,497 new coronavirus cases, 50 deaths in latest update today.
- AU/USD snaps two-day uptrend above $1,700 on US dollar recovery.
- GBP/USD: Retreats above 1.3800 amid chatters over UK’s covid passport.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?
First, "ETH merge" Google requests are on the rise. At the same time, "buy ETH" requests are at their two-year lows, which is quite a negative factor ahead of the vast update. The community either doesn’t believe in the success, or they are following the "buy the rumors – sell the news" rule and waiting for the massive dump after the merge.