Dollar Remains Bid into the New Week After Strong NFP’s

On Friday we saw good numbers out of the US as the Non Farm Payrolls data came out better than expected at 228k against the expected 198k. This kept the stock markets fairly happy into the weekend and kept the dollar supported even thought the Average Hourly wage numbers did disappoint.

The other big news on Friday and into the weekend was the progress with Brexit as the UK and EU came to an agreement over the Irish border situation which now allows the negotiations to progress to the next stage and the two parties start to discuss terms of trade etc. We saw a bit of a ‘buy the rumour, sell the fact’ reaction in the sterling as it finished the week more on the back foot.

Looking ahead to today’s trading and it is incredibly quiet on the fundamental data front with very little in the way of releases due out and those that are, are very much third tier. This should lead to more range bound conditions and smoother trading. However, traders will continue to keep a close eye on the news wires as geopolitical factors never seem far away in current markets!

Rakuten Securities Australia Review