The market sentiment is mixed. Let’s look at most interesting movements on the market today.
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!
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.