European markets traded higher after the release of the better than expected NFP number Friday afternoon, riding the strength of the dollar vs the Euro and closing at daily highs. All major sectors closed in the green led by Food and Beverage, Autos, Industrials and banking stocks. House Builders turned red for the day after disappointing earnings from Persimmon while Adidas was up on an RBC analyst upgrade.
Forex & Commodities markets
The FX markets reacted to the better than expected NFP number sending the dollar index up 0.75% up from 15 month lows and sending Gold and Silver sharply lower. The greenback gained vs all major however the real test for the recovery of the dollar will come this week on the CPI number later during the week. Gold lost 10$ on the dollar strength and closed under 160 dollar per ounce. There is no important news on the agenda Monday morning.
Swing trades follow up –
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