A better than expected U.S. Non-Farm Payrolls Report helped
drive equity futures markets to a new high for the year early in the trading
session.Investors bought up stocks
after the release of the bullish employment report which may have been a sign
that the U.S.
economy is on the road to economic recovery.
Stock market gains were pared late in the session as buyers
took a breather due to overbought technical factors and a fundamental
issue.Fundamentally, traders were still
concerned that despite a slow down in the number of jobs lost, the unemployment
rate may still climb to 10%.This number
was reiterated by the White House.
September Treasury Bonds felt selling pressure all session
following the release of the unemployment report.Bonds fell as yields rose as trader believe a
recovery in the economy will lead to an end to the Fedâ€™s easing of interest
rates.Next weekâ€™s auction was also
weighing on the minds of traders as more supply means higher yields.
The U.S. Dollar broke its connection with the equity markets
as traders bought Dollars as the bullish employment report may have signaled an
end to the recession.Todayâ€™s strength
in the Dollar may have been related to the interest rate differential.Traders believe that an improved economy will
lead to the Fed ending its easy money policy.This would trigger a rise in U.S. interest rates, thereby giving
the Dollar and advantage over currencies still maintaining their rates near
December Gold and September Silver both finished on the
downside.The stronger Dollar and a
possible improvement in the U.S.
economy led precious metals traders to lighten up positions initiated as a
September Crude Oil finished lower.The weaker Euro and gold prices contributed
to the down slide.The entire energy
complex closed down.Energy speculators
are caught in a difficult situation.On
one hand an improved economy will lead to an increase in demand for fuel and
energy.On the other hand, a stronger Dollar
will drive speculators out of hedge positions.
Grain markets finished the week lower but November Soybeans
managed to gain on Friday.Traders are
bracing for a potentially bearish USDA report next week.Improved crop conditions are expected to increase
yields.The mixed action in the Dollar
most likely hurt exports.
October Sugar continued its bull market this week.Production issues continue to plague this
market.Strong demand from India to make
up for its shortfall is helping to drive this market higher.
Forex Trading News
Daily Forex Market News Forex news reports can be found on the forex research
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Mon 10 Sep 2018 AA 08:30 GB- GDP, Trade, Output Tue 11 Sep 2018 AA 08:30 GB- Employment Decision A 09:00 DE- ZEW Survey Wed 12 Sep 2018 A 12:30 US- PPI A 14:30 US- EIA Crude A 18:00 US- Beige Book Thu 13 Sep 2018 A 1:30 AU- Employment AA 11:00 GB- Bank of England Decision AA 11:45 EZ- European Central Bank Decision A 12:30 US- Weekly Jobless AA 12:30 US- CPI Fri 14 Sep 2018 A 08:30 GB- GDP AA 12:30 US- Retail Sales A 13:15 US- Industrial Production AA 14:00 US- prelim University of Michigan
John M. Bland, MBA co-founding Partner, Global-View.com
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Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
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