MARKET WRAP: US Jobs Number Pushed Stocks Higher

Fundamental analysis of Forex market

US Jobs data disappointed and markets moved higher because the Fed cannot move the interest rate needle if it continues like this. US-China trade war will remain the focus for the upcoming week.


  • The S&P 500 Index traded up by 0.3 percent as of 15:30m. in London but likely to close the week higher
  • The Stoxx Europe 600 Index jumped 0.1 percent, on US-China trade hopes.
  • The MSCI Emerging Market Index dropped 0.1 percent.


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  • The Dollar Spot Index jumped 0.2 percent despite weak jobs number
  • The Euro pushed higher 0.1 percent to $1.1455 on the back of a positive set of economic number.
  • The British pound dropped further 0.3 percent to $1.307 as Brexit takes over again.
  • The Japanese Yen is still not picking up any steam and dropped 0.2 percent to 109.1 per dollar.


  • The yield on 10-year Treasuries dropped two basis points to 2.65 percent.
  • Germany’s 10-year yield didn’t move much and stayed at 0.15 percent.
  • Britain’s 10-year yield reacted to Brexit and jumped one basis point to 1.22 percent.


  • West Texas Intermediate crude moved higher by 1 percent to $54.29 a barrel, thanks to OPEC curbing supply.
  • Gold erased its gains and moved lower by 0.3 percent to $1,317.25 an ounce, but we maintain our upward bias.

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