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A world of Trading assets

2021/07/05 Market Chat

Authored by ZanderVanDerMerwe
3 min

The figures did come out interesting on Friday as we saw some positive NFP figures as it increased by 850 000 new jobs added however it was the increase in the unemployment rate that swung the market. The result is that we got some Dollar weakness as we saw a risk-on approach taken pushing the US indices higher while the dollar weakened on Friday.

Friday was a positive day on the markets for the most part as US Indices rallies higher as the Nasdaq and S&P made new all-time highs, however, European Indices remained stuck in a range as there’s no clear direction as yet.

Gold and silver both closed the week out on a positive note on the back of the NFP figures coming out that saw the precious metals close the week out positively. Brent also had a very strong week as it broke to make a new high, edging over $76 before closing out the week just shy of $76.

Aggressive trading over the weekend saw Bitcoin and Ethereum rally as Ethereum broke the 2300 mark over the weekend, however, the Asian session was not kind on the alternative asset as we saw both selling off during the Asian session.

As we’re waiting for the European market to open the US Dollar is the strongest currency, with the Euro and Pound not far behind. The Australian and New Zealand Dollar are among the weakest currencies as we’re waiting for Europe to open up.

The week ahead has a couple of high impact news events to take note of as Australia is set to give its monetary policy statements on Tuesday, the FOMC Meeting Minutes is due on Wednesday which should have some more detail with regards to the planned interest rate hikes that the Fed have in mind.

Monday (SAST)
All Day - OPEC Meetings
All Day - Bank Holiday (USD)

Tuesday (SAST)
6:30 am - RBA Rate Statement (AUD)
8:00 am - RBA Gov Lowe Speaks (AUD)
4:00 pm - ISM Services PMI (USD)

Wednesday (SAST)
11:00 am - EU Economic Forecast (EUR)
4:00 pm - JOLTS Job Openings (USD)
8:00 pm - FOMC Meeting Minutes (USD)

Thursday (SAST)
4:30 am - RBA Gov Lowe Speaks (AUD)
2:30 pm - Unemployment Claims (USD)
5:00 pm - Crude Oil Inventories (USD)
All Day - G20 Meetings

Friday (SAST)
12:00 pm - BOE Gov Bailey Speaks (GBP)
2:30 pm - Employment Change (CAD)
- Unemployment Rate (CAD)
All Day - G20 Meeting

Authored by ZanderVanDerMerwe
3 min
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