This is what you need to know to trade today Monday, May 10:
The American dollar Kicks off the new week on the defensive in the wake of Friday’s weak jobs report. The pound benefits from the results of the elections in the United Kingdom, the EUR / USD plagued by speculation of the reduction of buying bonds of the ECB and currencies related to commodities are higher. Ethereum has hit new highs, while Doegocoin remains under pressure after Elon Musk’s latest musings.
The NFP nonfarm payroll they increased by just 266,000 in April, far worse than expected from around a million jobs. Stocks have responded positively to the reduced chances of any adjustment from the Federal Reserve and the US dollar tumbled. Neel Kashkari of the Fed said the economy remains in “a deep hole.” His colleague Charles Evans speaks later that day.
See: NFP Quick Look: Terrible Figures Show Overheating Theory Still Relevant Only To Stock Markets
The oro It has been spreading its earnings after surpassing $ 1,800 previously and is trading near $ 1,840. The precious metal benefits from low US yields, with benchmark 10-year Treasury yields falling below 1.60%.
The GBP/USD it has risen above 1.40, benefiting from a weak dollar and favorable election results in the UK. The Scottish National Party won the elections, but remained one seat short of an absolute majority. The ruling Conservatives won a close by-election in Hartlepool. Prime Minister Boris Johnson is ready to announce the next steps to ease the blockade.
A ransomware attack on US gas pipelines it has paralyzed gas deliveries to much of the northeast of the country and has driven up prices. The White House created a task force to help restart activity. WTI crude oil is on the rise, trading above $ 65.
The EUR/USD it is trading above 1.2150, benefiting from the falling dollar and upset by comments from various members of the European Central Bank. Olli Rehn wants to adopt a flexible framework similar to that of the Fed, while others suggest that the central bank could reduce its bond purchases.
Cryptocurrencies: Elon Musk took Dogecoin down after saying on Saturday Night Live that the digital asset is a “scam.” However, he also named a rocket that is ready to go to the moon as “Doge 1”. Ethereum stands out with an increase to all-time highs above $ 4,000, while Bitcoin hovers around $ 59,000.
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