Market Wrap;
Hey y'all. I hope y'all had a nice trading week. My definition of "nice" is; learning new stuff to improve your trading business and experiencing wealth growth. Anyway, following a worse than expected employment data and a bearish-looking dollar, it's obvious that traders are more concerned about employment than unemployment, although, diverging unemployment data did generate mixed signals across all U.S. markets. Unemployment decreased to 4.3%, beating expectations by 0.1%, while employment for the month of may turned out to be 43k less than expected, causing the dollar to fall by 0.55% and pretty much against all its major G10 counterparts, falling 0.63% against the EURO, 0.91% against the AUD, 0.09% against the GBP, 1.12% against the NZD, 0.93% against the CHF, 0.23% against the CAD and 0.88% against the JPY.
The NZD turned out to be the best performer against the U.S. dollar while the GBP was the worst performer.
The way forward;
Although the dollar suffered this week, the probability of a rate hike on the 14th of this month is only 2% down from previous 89%. Here's what Janus Henderson Fund Manager, Bill Gross had to say about it;
https://www.bloomberg.com/news/videos/2017-06-02/gross-still-sees-june-fed-rate-hike-on-jobs-data-video
Enjoy trading!
Hey y'all. I hope y'all had a nice trading week. My definition of "nice" is; learning new stuff to improve your trading business and experiencing wealth growth. Anyway, following a worse than expected employment data and a bearish-looking dollar, it's obvious that traders are more concerned about employment than unemployment, although, diverging unemployment data did generate mixed signals across all U.S. markets. Unemployment decreased to 4.3%, beating expectations by 0.1%, while employment for the month of may turned out to be 43k less than expected, causing the dollar to fall by 0.55% and pretty much against all its major G10 counterparts, falling 0.63% against the EURO, 0.91% against the AUD, 0.09% against the GBP, 1.12% against the NZD, 0.93% against the CHF, 0.23% against the CAD and 0.88% against the JPY.
The NZD turned out to be the best performer against the U.S. dollar while the GBP was the worst performer.
The way forward;
Although the dollar suffered this week, the probability of a rate hike on the 14th of this month is only 2% down from previous 89%. Here's what Janus Henderson Fund Manager, Bill Gross had to say about it;
https://www.bloomberg.com/news/videos/2017-06-02/gross-still-sees-june-fed-rate-hike-on-jobs-data-video
Enjoy trading!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.