2021-05-10 04:03:37
Five things traders need to know today 1-S&P 500 and Dow closed at fresh highs last week while tech-heavy Nasdaq declined for a second week. Nonfarm payrolls increased by 266,000 in April, far less than 1 million expected, with the unemployment rate rising to 6.1% from 6.0%. Major European indices ended the week in positive territory.
2-Gold surged above $1,830 Friday, having hit a three-month high of 1843. Silver jumped 6% to $27.45. WTI crude (SpotCrude) added 2.23% despite the three-day losing streak that pushed the price below $65. Ethereum soared more than 30% last week to $3,896.51.
3- The US dollar index (USDX) fell toward 90 as the downbeat labor data is expected to strengthen Fed’s cautious approach. 10-year Treasury yields dropped to as low as 1.49% during the session, while USDJPY trended lower to 108.60.
4- EUR advanced to 1.2161 amid USD weakness and hopes of ECB tapering in June. GBP tested 1.40 before moving lower to 1.3986. BoE slowed its bond purchase program and Pro-independence parties won the majority in Scotland parliament on Saturday.
5- AUD and NZD added more than 1.7% last week and closed at multi-week highs (0.7843 and 0.7281 respectively). CAD strengthened to 1.2128, the highest against USD since September 2017, despite the weaker-than-expected Canadian job data in April.
Credit-Pepperstone
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