The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
NFP results: USD/JPY up, gold down
The US labor statistics just reported: Nonfarm Payrolls are 2.5M against -7.5M expected and -20.5M in April; Unemployment Rate is 13.3% against 19% expected and 14.7% in April; Average Weekly Hours are 34.7 against the 34.3 in the previous month. Apparently, the street is sunny again!
As a direct reaction to this news, the USD/JPY immediately went up above 109.00 now having the March highs as the closest target. On the other side, gold was sent down to face April lows ahead in the downside. An interesting layout - make your trades on this optimistic report and watch out for correction!
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.