Forexlive Americas FX news wrap: Falling unemployment leads to tumbling stock markets


Markets:

  • Gold down $16 to $1695
  • US 10-year yields up 6 bps to 3.88%
  • WTI crude up $4.06 to $92.51
  • S&P 500 down 115 points to 3629
  • USD leads, NZD lags

The Fed-pivot talk went down in flames today and it didn’t even take a big surprise in the jobs report. The headline was basically bang-on expectations but unemployment fell two ticks to 2.5% with half of that from a dip in labor force participation.

Beyond that the details didn’t matter and I have to think that the weight of all the hawkish Fed talk this week added to the tumble. The dollar rose on the data and then rose again late in the day as equities crumbled. The Nasdaq fell 4% to nearly give up the week’s gains.

Cable fell nearly a full cent to 1.1063 from as high as 1.1225 before the jobs report. It’s trading at the lows just ahead of the close.

AUD and NZD are similar while EUR/USD is just above the knee-jerk lows after the jobs data. The real worry going into Monday’s open may be USD/JPY as it presses to 145.40 and test’s the Japanese Ministry of Finance’s patience.

USD/CAD was able to hold the earlier highs on a sizzling day for oil. Crude has swung from demand worries to supply fears and rallied every day this week. Mission accomplished for OPEC+ and the moves will make the BOC’s job a bit easier.

All told, this was a rough day for risk assets and a strong start to Q4 has turned into a dud.



Source link

Related articles

Valeura, PTTEP increase offshore exploration in Gulf of Thailand

Picture: PTTEP Valeura Power Inc. has entered right into a farm-in settlement with PTT Exploration and Manufacturing Plc (PTTEP) to earn a 40% curiosity in Blocks G1/65 and G3/65, within the offshore Gulf of...

Bitcoin Worth Watch: Impartial Technicals Go away Bulls and Bears in Impasse

Bitcoin’s value traded between $117,922 and $118,020 over the past 60 minutes, indicating minimal value volatility within the brief time period. With a market capitalization of $2.34 trillion and a 24-hour buying and...

Commerce Simulator MT4: Setup & Consumer Information – Buying and selling Programs – 27 July 2025

Begin buying and selling straight away with Commerce Simulator MT4/5 — set up and follow inside a minute! No strain. No actual cash....

1 Inventory to Purchase, 1 Inventory to Promote This Week: Amazon, Starbucks

Fed FOMC Assembly, U.S. jobs report, Massive Tech earnings, and Trump’s Aug. 1 tariff deadline will likely be in focus this week. Purchase Amazon: Robust AWS and promoting features, price self-discipline, and a resilient...

Bitcoiners Debate Over Whether or not OG’s Religion Is ‘Shaken’

A outstanding crypto analyst has sparked debate within the Bitcoin neighborhood by claiming that Bitcoin OGs are shedding confidence within the asset because it turns into more and more adopted by establishments.“Lots of...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com