US Jobs Growth Slowed In April
US Jobs Growth Slowed In April
The U.S. economy created just 160k jobs last month, the fewest number of jobs in seven months. Americans dropped out of the labor force, signs of weakness that cast doubts on whether the Federal Reserve will hike interest rates before the end of the year. The good news is that wages rose during April, with average hourly earnings up 8% an hour, representing a 0.3% annualized gain.
On last week, USD index settled at 93.83 rebounding from its lowest level of 91.91.
Euro moved away from 8-months high of $1.16 vs. USD and settled at $1.14. From a technical point of view, the fiber could retest levels of $1.15.
The pound sterling continued its downward movement and traded at $1.4430 vs. USD, negatively affected by “Brexit” campaign. The Cable could re-test $1.4470 once again.
USD settled last week at 107 levels, rebounding from its lowest level of 105.55. On the other hand, china data dumped this week, therefore, the greenback could re-test 106 level.
Gold precise negatively affected by strong USD and traded below $1,280, rebounding from the psychological level of $1,300. The resistance resides at $1,267 and the yellow metal could rise once again.
Oil prices jumped last week on Canadian wildfire. WTI settled at $44.50 and could be affected by Chinese weak data.
The most important economic events:
Disclaimer
The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM Capital Limited. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.
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