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U.S. Jobless Rate declined to 8.4% in August
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Ichimoku Kinko Hyo
AUD/JPY: The AUD/JPY pair is now poised to exit the Kumo. Further bearish momentum will confirm the bearish sentiment.
US Market View
U.S. Jobless Rate declined to 8.4% in August. The S&P 500 was set for a higher open on Friday following a brutal selloff in the previous session as a drop in the unemployment rate offset a slide in technology stocks, while investors remained cautious about a patchy economic recovery.
Nonfarm payrolls increased by 1.37 million jobs last month after advancing 1.73 million in July, the Labor Department’s closely watched employment report showed. The unemployment rate fell to 8.4% from 10.2% in July, steeper than the 9.8% fall that economists polled by Reuters forecast.
Apple Inc (AAPL.O), Microsoft Inc (MSFT.O), Amazon.com Inc (AMZN.O), Tesla Inc (TSLA.O) and Nvidia Inc (NVDA.O), which bore the brunt of Thursday’s losses, extended declines to between 1% and 4% in premarket trading.
The US Dollar consolidated gains on Friday but was set for its biggest weekly rise in two and a half months as on overnight drop in high flying US tech stocks fuelled a bout of risk aversion in global markets.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus