MARKET NEWS FOR TODAY 📊
Today there are a few things that can create good movement in
currency pairs, so keep them on your radar 👀
🛢
Oil remains above $100 despite G7 countries agreeing to use 100M barrels from strategic reserves and Saudi Arabia increasing supply.
🇺🇸
The US labor market is showing weakness.Nonfarm Payrolls:
29K vs 133K previouslyUnemployment:
4.2% vs 4.1%
This could put pressure on the
USD this week.
📉 US 10Y Treasury yields have also fallen to
5.1%, showing the bond market is becoming less convinced that rates will stay this high.
⚠️
Today’s main focus: US Services PMI data from
ISM and S&P.
Around the release, pairs with USD can become much more volatile. For short expirations,
don’t enter blindly right before the news. Wait for the first reaction and trade only when the direction becomes clearer.
💌
@julieee_trader