Saturday 6 July 2019

FXTM BREAKING MARKET COMMENTARY FOLLOWING THE US JOBS REPORT

fxtm logo
Lukman Otunuga,
FXTM Research Analyst

Appetite towards the Dollar sweetened on Friday afternoon as investors digested the mixed US jobs report for June.

Do you want to be a non-oil products exporter? You have to master the contemporary dynamics of non-oil export trade and avoid getting defrauded by the foreign buyers of your exportable products? Click on the link below: http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html

The Dollar appreciated against every single G10 currency as markets cheered the fact that the United States added an impressive 224,000 jobs to its economy last month.

Bring your dented vehicles to GOF Autos Ltd for priming, panel beating, painting (with Sikkens paint) and oven baking at rate of N70,000 for cars and N80,000 for SUVs. For details, click: http://www.tectono-business.com/2017/06/gof-autos-limited-best-automobile.html

However, with the unemployment rate slightly up at 3.7% and average earnings disappointing by rising 0.2% in June, below the expected 0.3% - the jobs data is certainly a mixed bag. Today’s report is likely to complicate the Federal Reserve’s decision to cut interest rates this month, especially if economic conditions in the United States continue to stabilize leading up to the Fed policy meeting.

Be a Landlord in Lagos by acquiring plots and hectares of land @ Royalty Homes Estates in Lekki, Agbara, Ikorodu and Mowe. Do not wait to buy. Rather, buy and wait. For details, click: http://www.tectono-business.com/2019/06/be-landlord-in-lagos-by-acquiring-plots.html

This sentiment is reflected in the Dollar’s appreciation with further upside expected as investors start to re-evaluate whether the Fed will pull the rate cut trigger. Taking a look at the technical picture, the Dollar Index is trading marginally above 97.10 as of writing. A weekly close above 97.00 may inspire an incline towards 97.50.

No comments:

Post a Comment