Market News & Analysis
Risk FX Shares surge to end the week; Dow jumps after NFP and FED comments
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02:00 USD ISM Non-Manufacturing PMI
Friday ended with a bang as Non-Farm payroll data came in higher than expected discounting some thoughts of a possible slowdown in the U.S economy on top of this The Feds comments hinted at a halt in interest rate rises. To continues to positive news the U.S and China are said to be having trade talks in China this week. After Thursday’s declines Friday’s session revived buyer optimism, U.S stocks which have been beaten down in the two sessions jumped, Apple pulled back lost ground adding over 4%. The Dow jumped by 746 +3.29% the Nasdaq surged adding 4.26%. Markets in Europe finished the session higher, the DAX jumping over 3% and the FTSE closing over 2% higher. The USD was knocked hard post FED comments as traders saw a a message of holds might be coming from the FED.
This led to solid buying on the AUD as it rocketed adding 117 pips. The EUR closed higher but lagged, the GBPUSD added just over 100 pips. The USDCAD continued to be sold off dropping 110 pips after Thursday’s drop taking the total to 210 pips in 2 sessions. Gold lost ground as equities rebounded, closing $9.15 lower. Oil added 1.9% as supply cuts and China U.S trade talks start to life buyer interest.
This morning risk continues higher, the ASX200 is 1.59% higher and the Nikkei is 3.36% higher after Friday’s positive leads.
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