Market Update: NFP recap – Monday trade – Bitcoin – Gold

พฤษภาคม 11, 2020
by Joseph Jeffriess, Market Analyst

Risk markets rallied post-NFP despite unemployment hitting 14.7. The Dow and Nasdaq adding over 1.50% shows us that expectation remains a powerful driver in the market. Today we’ve more of the same with gains extending into Monday’s session, the ASX200 has closed 1.44 % higher and the Nikkie is 1% higher. Risk currencies have been mainly higher on Monday with the AUD, EUR and GBP higher to the USD and all of the majors higher to the JPY. The GBPJPY leading gains up 0.61%

Bitcoin was cut down by 13%,  we look at the daily chart as price is close to previous demand that formed on May 1st from 8560.

Gold remains range-bound after Friday’s decline. Sellers reinforced 1715.30 resistance. Price sits mid-range and we’re watching today’s rally as sellers have started to fade. If it completes could it set up a 2nd day of selling to test the range low at the 1683 area?

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