This is what you need to know to trade today Monday, October 11:
The weakness of the dollar following the disappointing September US employment report, which showed Non-Farm Payrolls increased by 194,000, disappointing the market’s expectation of 500,000 by a wide margin, was short-lived. Rising U.S. Treasury yields provided support for the greenback and helped it remain resilient against rivals.
NFP Quick Look: Three Reasons Dollar Bears To Party, Even If The Tapering Remains Intact.
There will be no high-level macroeconomic data on Monday. The US bond markets will be closed for the Columbus Day holiday, but the stock markets will trade normal hours. However, trade action is expected to remain subdued ahead of Wednesday’s US inflation data.
Wall Street: US equity futures are trading flat on Monday, reflecting a neutral market mood.
USD/JPY: The pair extended last week’s rally, which was fueled by the 10-year US Treasury yield advancing to multi-month highs above 1.6%, reaching its strongest level since December 2018 at 112, 75. Furthermore, the impressive 1.5% rise in the Nikkei 225 on Monday appears to be putting additional weight on the shoulders of the safe-haven JPY.
Oro: After a strong rally to a fresh two-week high at $ 1,781 early in the US session on Friday, gold ended up closing the week with small losses at $ 1,757. Currently, the XAU / USD is fluctuating in a narrow channel above $ 1,750.
EUR/USD: The EUR / USD pair posted losses for the fifth week in a row and remains relatively quiet below 1.1600 at the beginning of the week.
GBP/USD: The British pound is heading higher at the start of the European session on Monday and the pair was last seen trading at its highest since late September at 1.3658. UK September labor market data could be the next big catalyst on Tuesday.
AUD/USD: Supported by rising copper prices, the AUD / USD opened firm and closed at multi-week highs that it set at 0.7340 on Friday.
Cryptocurrencies: After a quiet weekend, Bitcoin regained its traction and renewed five-month highs above $ 56,000. Ethereum is up more than 3% daily and is trading around $ 3,500.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
