The market sentiment is mixed, but there are still interesting movements on the market.
US NFP came below forecast
US nonfarm payrolls showed that the US economy added 98K of new jobs in March. That’s less than the forecast of 174K.
At the same time, American unemployment rate declined from 4.7% to 4.5%. Average hourly earnings showed stable growth of 0.2%.
US dollar index (DXY) fell from 100.80 towards 100.40.US dollar index (DXY) fell from 100.80 towards 100.40.
US Core monthly retails sales will be announced on Friday at 15:30 MT time.
Stock significantly surged: S&P 500 and Nasdaq reached 6-week highs. The market sentiment may deteriorate today as Johnson & Johnson’s Covid-19 vaccine trails have been stopped because of the unexplained illness.
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.