Dollar keeps its footing after NFP-inspired rebound

Started by OZER, Feb 07, 2022, 06:03 PM

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Here is what you need to know on Monday, February 7:

The greenback is staying resilient against its rivals at the start of the week following Friday's rebound, which was fueled by the upbeat January US jobs report. There won't be any high-tier macroeconomic data releases on Monday and major currency pairs are likely to move sideways. US stock index futures are trading flat and the benchmark 10-year US Treasury bond yield stays calm near 1.9% early Monday, pointing to a neutral market mood.

The US Bureau of Labor Statistics reported on Friday that Nonfarm Payrolls (NFP) rose by 467,000 in January. This print surpassed the market expectation of 150,000 by a wide margin. Additionally, the publication revealed that the annual wage inflation, as measured by the Average hourly Earnings, jumped to 5.7% from 5% in December, beating analysts' estimate of 5.2%. Supported by these figures, the US Dollar Index snapped a five-day losing streak on Friday. The index is clinging to small daily gains above 95.50 on Monday.

EUR/USD retreated modestly from multi-week highs on Friday but ended up gaining more than 300 pips on a weekly basis. The pair is trading in a tight range below 1.1450 heading into the European session.

GBP/USD stays above 1.3500 following Friday's decline. The Bank of England adopted a cautious tone on the UK economic outlook following the rate hike decision, limiting the pound's upside.

USD/JPY capitalized on rising US Treasury bond yields last week and climbed above 115.00. The pair posts small daily gains near 115.30.

Gold continues to trade above $1,800 after closing the previous week in the positive territory. In case US T-bond yields start to retreat, XAU/USD could gather bullish momentum.

Bitcoin climbed above $40,000 on Friday and spent the weekend in a consolidation phase. BTC/USD continues to push higher early Monday and was last seen trading at $42,700. Ethereum closed the previous four trading days in the green and reclaimed $3,000 at the start of the week.
All content is for education purpose only, not financial advices.

Coinbase needs a brick and mortar for customer service.

So short answer "LoL of course not you financial noobs" listen people they are stuck printing money. They cannot stop.

For those that do not know the federal reserve is not a government entity. Of course this  doesn't tell you that because they love to lie and keep people misinformed.

Over 67%+ of Americans unemployed permanently!

I love how all the executives dumb it down and explained it in layman terms so that all these government boomers understand Crypto.

Keep voting for handouts! Remember I'm not going to donate to the sidewalk beggars. I've been taxed enough!

They said the same thing about bitcoin when it hit 8k per coin. 5 years after, It jumps to 50k per coin.

6:00 You know what? Investors bet their money on the future of the investment.  I won't invest in a company because it's big now, I'll invest in it because it'll be bigger in the future.

I hate these idiots. I've lost so much money just for being a U.S. citizen.

March! market crash cuz of evergrande hahahah

Дислеймер, не финансовый совет*