NFP Dissapoints – Risk Off Gains Momentum

NFP Dissapoints – Risk Off Gains Momentum

2020-10-05 • Updated

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GBPUSDM30.png

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USDCHFM30.png

Ichimoku Kinko Hyo

AUD/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.

AUDJPYM30.png

Fibonacci Levels

XAG/USD: Silver during the last hours is trying to move higher and continues to stand a bit 23.6% retracement area.

XAGUSDM30 (1).png

US Market View

Very muted market reaction after NFP. However, given the margin of error some of the recent prints have seen (in relation to consensus estimates), this can be considered a rather "in-line" release. The U.S. labor market's recovery weakened in September, with the economy adding only 661,000 new nonfarm jobs through the middle of the month, less than half of what it created in the month through mid-August.

US Key Point

  • Fed's Harker: Will accept periods of above 2% inflation after long periods of sub-2%
  • Madrid and nine nearby cities to enter partial lockdown today
  • EURUSD defines the range. Moves a little lower after the jobs report.

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