The dollar traded marginally lower following the release of NFP numbers Friday afternoon. While US Unemployment rate dropped to its lowest rate in 50 years the overall 136K jobs created failed to impress investors. The focus is likely to shift towards the US China trade agreement with talk resuming this week and high level officials meetings set to resume later on this week in Washington. The dollar lost nearly 1% from 2-year highs over the past 7 days, the index trading now at 98.18. US and EU equity markets traded higher Friday, as investors switch preferences and moved out of “safe heavens” in favor of stocks on US China trade optimism and putting the US President Trump impeachment treat in the back mirror. Metals traded mostly lower on the move from safety, that’s after 3 green trading days. Gold closed lower at $1,504 and Silver at $17,37 per ounce. Oil managed to stage the first green day after 11 straight red days, coming off the $52 support level and trading higher nearly 0.5% on markets optimism to close at 52.84 per barrel, still down nearly 8% for the week and more than 20% over the last 3 weeks.
Fed Chairman Powell speech at 6:00 pm in Salt Lake City is the important news on the agenda Monday. (all times GMT).
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Oil closed the third week in a row in red, losing 20% in the process following the spike on the Saudi infrastructure attacks.
Volatile week for Nasdaq futures closed flat, focus moves to US China trade talks this week.
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