Contact

Market Update Friday’s NFP wrap, Asian session news Gold Oil (surge) Breakdown 41119

jeffriess
November 4, 2019
by Joseph Jeffriess, Market Analyst

Article Recap

Today’s High-impact economic news:

• Australian Retail sales missed expectations falling to 0.2%
• Tomorrow morning; 5:00 am EUR ECB President Lagarde Speaks

Good afternoon traders, Friday’s NFP was a mixed bag with pay-rolls beating expectations but wages missed and unemployment remained steady. The USD saw a boost after the data but was quickly shut down by weaker manufacturing PMI data and positive trade developments. US stocks rallied the Dow and Nasdaq adding just over 1%. Oil was Friday’s big mover adding just under 4% after data and trade news spiked demand.

Australian retail sales missed expectations this morning dropping to 0.2%, this has put pressure on the AUDUSD. Risk is mixed today the ASX200 is 25 pts higher while the Nikkei is in the red. The EUR and AUD are lower to the USD while the GBP is just holding gains.

Today’s market video; Wrap up of Friday’s NFP and its influence on the USD, quick wrap up of today’s Asian session and a breakdown of Gold and surge in Oil.

All times are AEST.