Powell’s coup boosts the dollar and brings gold down, all eyes on the NFP

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This is what you need to know to trade today Friday, March 5:

Markets remain depressed after Jerome Powell largely ignored rising bond yields, driving them and the dollar higher. US Nonfarm Payrolls are in focus and stimulus continues to advance in the Senate. Oil is driven by OPEC + while Bitcoin extends its retreat.

Knock: Jerome Powell, Chairman of the Federal Reserve, said that the movement in the debt markets “It called my attention“but emphasized that the bank is looking at a wide range of financial conditions while appearing to allow yields to rise further. 10-year Treasury yields rose above 1.55%, driving the dollar higher and pushing gold below $ 1,700.

Powell Quick Look: Markets Will Suffer For Two More Weeks As The Fed Dismissed The Bond Fall

While stocks in Asia and Europe are on the defensive, S&P 500 futures are relatively stable As tension builds toward reporting Non-Farm Payrolls February. Powell emphasized that 10 million Americans who have lost their jobs due to the pandemic are still unemployed. An increase of only 182,000 is forecast, with the main indicators sloping downwards, the unemployment rate will remain above 6%.

February US Non-Farm Payroll Preview: The Tipping Point
NFP Report Forecast: Will It Boost the Dollar? Three reasons lower expectations and pave the way for an upside surprise

China aims to reach a growth rate of 6% or more in 2021, a goal that is considered ambitious given the size of the world’s second-largest economy.

The EUR / USD is trading below 1.20, also while the old continent continues to fight against COVID-19 and a slow vaccination campaign. Italy stopped shipping doses of AstraZeneca to Australia, taking advantage of the EU’s powers to curb exports.

The GBP/USD it is trading below 1.39 on the first anniversary of the first reported death from coronavirus. Britain’s immunization campaign is approaching a third of the population.

The crude petróleo WTI It has risen above $ 64 after the OPEC + countries agreed to extend most of the production cuts through April. The surprising move came despite earlier gains in black gold.

The Bitcoin is changing hands around $ 47,000, down from the 50,000 mark that has been hovering in recent days. Ethereum and XRP are also on the defensive.


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