- Wall Street futures are trading in positive territory.
- Metals have initiative again after Friday’s fall.
- The dollar loses strength while treasuries recover.
Wall Street futures point to a positive open at the start of the week. In Europe the main squares also go up. The dollar loses strength after Friday’s rally that had been driven by the jobs report. Gold climbs over $10.
After employment data, the focus may return to inflation
After closing Friday down 0.16%, the S&P 500 was up 0.45% in Monday’s preview. The futures of dow jones rise 0.38% and those of the nasdaq 0.59%. In Europe, the main markets rose 0.85% on average.
Friday’s data from the US employment report that exceeded expectations and fueled the debate on whether or not the country is in a recession. In July, 528,000 jobs were created and the unemployment rate fell to 3.5%. The figures were not typical of a state of recession. This week the focus of the data is on the inflation numbers to be published on Wednesday (CPI) and Thursday (PPI).
Its Treasury bond yields andThey are falling on Monday after the strong rise on Friday after the NFP. The 10-year tranche yields 2.79%, far from the recent peak of 2.88%.
The context of rise in markets and lower yields are weighing on the dollar, which is falling throughout the market. EUR/USD is trading around 1.0200, USD/JPY below 135.00 and GBP/USD above 1.2100.
The metals are favored by the context. The Prayed trades above $1780 trying to return to the level it had before the employment report. For its part, silver rises more than 1.50%, and stands at $20.23.
Monday highlights the rise in cryptocurrencies. Bitcoin it is over $24,000, at the highest since the end of July while Ethereum gains 4.40%.
The prices of Petroleum they are unable to recover ground and remain in the low zone for months. The barrel of WTI falls 0.70% on Monday and trades around $88.00.
Pfizer agreed to buy Global Blood Therapeutics for $5.4 billion. In the previous one, Tesla rises 1.95%, the presentation of corporate results for the second quarter continues. On Monday, among others, it will be the turn of Tyson Foods, Palantir, Barrick, Novavax and AIG.
Technical levels
Source: Fx Street
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