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US Market Outlook Feb 2 2018

Posted by Tim Sholl on 03-Feb-2018 01:04:17

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Daily Chart of GBP/USD.

Employment numbers out tonight came in at 200k new jobs ,better than expected. Importantly the average weekly earnings number was at 0.3% for Jan , higher than expected. Unemployment rate was 4.1% as expected. Bond yields have jumped higher on the number to 2.83% for US 10yr note. Dow Jones Index prices have fallen 200 points as markets react to the higher rates.

We have also seen the US Dollar jump against most currencies including GBP in chart above.

It is looking likely that the DXY will change trend today after 6 weeks trending down. Stocks look likely to continue lower into weekend as investors begin to fret about extra rate hikes later in the year.

 

Topics: Market News, Invest, US Market Outlook