The overall market sentiment is mixed as new virus cases continue rising throughout the world, but most economic indicators came out better than analysts expected. Let’s look at the main market movements.
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.
The market sentiment switched to risk-off after the Fed’s Powell statement. The USD edged higher, while risker assets started falling after reaching quite high levels. Let’s have a closer look.
The overall market sentiment is mixed as investors await the Federal Reserve’s statement today at the evening.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…