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Daily market overview – 10/05/2016

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Daily market overview – 10/05/2016

Daily market overview – 10/05/2016
May 10
09:00 2016

Wall-Street’s main indices saw little change on Monday after managing a green close on Friday. This happened despite a disappointing NFP report, which showed that the US job market was below analysts’ expectations.

Its seems like a second Fed rate hike in the upcoming June meeting is likely of the table, as the recent US macro data suggest that the market has not been ready yet. With this hesitation in the air, the USD remains soft since EUR/USD continues to trade close to 1.14, recuperating from its long time low vs  JPY, as  USD/JPY is inching closer to 109.

Oil prices remain volatile, dropping over 2% yesterday, below 44$ for crude oil, as the OPEC future plans regarding the supply extent are still not clear. Gold price fell yesterday after the strong growth on Friday, being currently traded around 1265$. The precious metal is expected to continue to trade opposite to the Greenback.

Key Market Data Today:

06:00 – EUR: German Trade Balance.

14:00 – USD: Jolt’s Job openings.

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2 Comments

  1. Sam
    Sam May 10, 10:53

    NFP report really has disappointed the traders and their expectations. Let’s wait…

    Reply to this comment
  2. Sviatoslav
    Sviatoslav May 10, 13:01

    Miracles on Wall Street: How do the indices manage to keep their positions and even grow?

    Reply to this comment

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