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Nikkei above 200 Day Moving Average. US Non-Farm Payrolls Friday.

   

Welcome to this week’s Market Blast Fundamentals where we will look at Gold (XAUUSD), the S&P 500, the Nikkei, AUDUSD, EURUSD and the US Non-Farm Payrolls.

 

We see USD weakness on most pairs right now with lots of economic news this week including the Non-Farm Payrolls where the previous figure was a drop of 20,000,000 jobs.Screenshot 2020-06-01 at 09.25.13

We also note Central Bank Interest Rate decisions, tomorrow from Australia, Wednesday from Canada and Thursday from Europe.

The Euro is strong against most pairs but watch for volatility during the Thursday Press Conference as the ECB discusses Quantitative Easing and the rescue plans.Screenshot 2020-06-01 at 09.25.45

The AUD is strong as well but watch for news on US/China trade relations which will affect the currency.

We still see all indices rising today, even the Hang Seng, with both the S&P 500 and the Nikkei above the 200 Day Moving Average.Screenshot 2020-06-01 at 09.26.09

Of course, the global stock indices will be affected by news on the Coronavirus, vaccines, and US/China relations.

Gold has risen as a safe haven as political, health and economic confusion continues in the United States.

That’s all for now.  Happy trading with Valutrades and we will see you tomorrow.

CFDs and FX are leveraged products and your capital may be at risk.

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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