Strong nonfarm data likely to extend Fed rate hikes
EUR/USD 🔼
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AUD/USD 🔽
NZD/USD 🔼
USD/CAD 🔼
USD/JPY 🔽
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The US Nonfarm Payrolls reading for November was 263,000, exceeding market expectations. Even though the Federal Reserve is already inclined to slow its rate hikes, this news will likely prolong the rate hike series.
As a result, the stock market closed slightly lower. As the S&P 500 fell 4 points (-0.12%) to 4,071, the Nasdaq 100 fell 47 points (-0.40%) to 11,994, and the Dow Jones Industrial Average rose 34 points (+0.10%) to 34,429.
EUR/USD rose 18 pips to 1.0538, GBP/USD reached 1.2287, and AUD/USD fell to 0.6789. Mitrade anticipated a 35 basis point rate hike from the Reserve Bank of Australia, where New Zealand raised rates by 75 basis points in late November. NZD/USD rose to a three-month high at 0.6408.
USD/CAD climbed 36 pips to 1.3468, and USD/JPY slid over 100 pips to 134.29. Bitcoin just traded higher to 17,260.0.
Gold prices retreated $5 to $1,797.88 an ounce and just recovered to $1,806.29. Upon the European Union’s embargo, the G7 group also imposed a $60-a-barrel price cap on Russian crude oil, which Russia claimed it would not supply. WTI crude futures settled lower at $79.98 a barrel.
GBP/USD 🔼
AUD/USD 🔽
NZD/USD 🔼
USD/CAD 🔼
USD/JPY 🔽
XAU 🔽
WTI 🔽
The US Nonfarm Payrolls reading for November was 263,000, exceeding market expectations. Even though the Federal Reserve is already inclined to slow its rate hikes, this news will likely prolong the rate hike series.
As a result, the stock market closed slightly lower. As the S&P 500 fell 4 points (-0.12%) to 4,071, the Nasdaq 100 fell 47 points (-0.40%) to 11,994, and the Dow Jones Industrial Average rose 34 points (+0.10%) to 34,429.
EUR/USD rose 18 pips to 1.0538, GBP/USD reached 1.2287, and AUD/USD fell to 0.6789. Mitrade anticipated a 35 basis point rate hike from the Reserve Bank of Australia, where New Zealand raised rates by 75 basis points in late November. NZD/USD rose to a three-month high at 0.6408.
USD/CAD climbed 36 pips to 1.3468, and USD/JPY slid over 100 pips to 134.29. Bitcoin just traded higher to 17,260.0.
Gold prices retreated $5 to $1,797.88 an ounce and just recovered to $1,806.29. Upon the European Union’s embargo, the G7 group also imposed a $60-a-barrel price cap on Russian crude oil, which Russia claimed it would not supply. WTI crude futures settled lower at $79.98 a barrel.
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