The market sentiment is mixed. Let’s look at most interesting movements on the market today.
US NFP came weak, but earnings saved the day
US Nonfarm Payrolls (NFP) contracted by 33K in September. The consensus forecast was an increase of 83K. Such weak reading can be explained by the negative impact of devastating hurricanes.
At the same time, the unemployment rate declined from 4.4% to 4.2% and growth pace of average hourly earnings increased from 0.2% to 0.3%.
USD index strengthened from 93.80 to 94.00 on the release.
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.