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.
Written by Admin
Jamie Dimon, chief executive officer of JPMorgan Chase & Co.Giulia Marchi | Bloomberg | Getty ...
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