We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Geopolitical risks impacting markets in the week ahead: #AUD May Fall on US-China Trade Deal Fears, #CrudeOil Eyes #OPEC Meeting- https://www.dailyfx.com/forex/fundamental/article/special_report/2020/07/13/AUD-May-Fall-on-US-China-Trade-Deal-Fears-Crude-Oil-Eyes-OPEC-Meeting.html
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/wSHeU7aRoX
  • 🇯🇵 Tertiary Industry Index MoM (MAY) Actual: -2.1% Previous: -7.7% https://www.dailyfx.com/economic-calendar#2020-07-13
  • 🇯🇵 Tertiary Industry Index MoM (MAY) Actual: -2.1% Previous: -6.0% https://www.dailyfx.com/economic-calendar#2020-07-13
  • 🇯🇵 Tertiary Industry Index MoM (MAY) Actual: -2,1% Previous: -6.0% https://www.dailyfx.com/economic-calendar#2020-07-13
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.93%, while traders in US 500 are at opposite extremes with 76.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/TRp6GF9snQ
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.32% 🇬🇧GBP: 0.27% 🇪🇺EUR: 0.24% 🇨🇭CHF: 0.16% 🇯🇵JPY: 0.09% 🇳🇿NZD: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/O81hxQPBpL
  • Heads Up:🇯🇵 Tertiary Industry Index MoM (MAY) due at 04:30 GMT (15min) Previous: -6.0% https://www.dailyfx.com/economic-calendar#2020-07-13
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.31% France 40: 1.23% FTSE 100: 0.94% Wall Street: 0.64% US 500: 0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YSclbAH1mY
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/sBmNFhegO2
Gold Sinks, USD/JPY Surges as NFP Report Smashes Expectations

Gold Sinks, USD/JPY Surges as NFP Report Smashes Expectations

2020-06-05 12:40:00
Rich Dvorak, Analyst
Share:

NFP REPORT: GOLD PRICE PLUNGES & SPOT USD/JPY RIPS HIGHER AS JOBS GROW BY 2.5 MILLION IN MAY

  • US nonfarm payrolls report for May 2020 crushed the median estimate on Wall Street looking for -7.5 million jobs lost, but the actual figure crossed the wires at 2.5 million jobs added
  • USD/JPY price action spiked higher in response to the better-than-expected NFP report
  • Gold prices puked as the precious metal was pressured lower alongside other safe-haven assets like US Treasuries

An absolutely astonishing US jobs report just crossed the wires. Nonfarm payrolls added 2.5 million jobs last month as the American labor market attempts to claw its way back from April’s catastrophic NFP report. The latest NFP data smashed market expectations by 9.5 million seeing that the median economist estimate was looking for the US economy to shed, yes lose, 7.5 million jobs.

Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Rich Dvorak
Trading Forex News: The Strategy
Get My Guide

Correspondingly, the unemployment rate actually fell to 13.3% from 14.7% previously reported. In response to the shockingly positive NFP report, safe-havens dropped considerably as upbeat trader sentiment accelerated S&P 500 and Dow Jones Index futures higher ahead of the New York opening bell.

US 500 MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 3% 2% 2%
Weekly -18% 14% 4%
What does it mean for price action?
Get My Guide

GOLD PRICE SPIKES LOWER, TEN YEAR TREASURY YIELD EXTENDS HIGHER

Gold Price Chart Ten Year Treasury Yield Reaction to NFP Report May 2020

Chart created by @RichDvorakFX with TradingView

The price of gold plunged 1% immediately after the stunning US jobs report crossed the wires. The precious metal’s move lower mirrored the spike higher in the 10-year Treasury yield, which is now perched above the 0.9% mark, after extending its rally to 270-basis points over the last five trading sessions.

Read More – Russell 2000 Bests Nasdaq Rally, Bonds Plunge on ADP & PMI Data

USD/JPY PRICE CHART: 1-MINUTE TIME FRAME (05 JUNE 2020 INTRADAY)

USDJPY US Dollar to Yen Price Chart Reaction to NFP Jobs Report May 2020

USD/JPY price action also exemplifies the rejuvenation of trader risk appetite following the encouraging NFP data. The US Dollar jumped nearly 50-pips, or about half a percent, against its anti-risk Japanese Yen peer. As such, spot USD/JPY made an explosive move off the 109.20-price level to the 109.60-handle.

USD Forecast
USD Forecast
Recommended by Rich Dvorak
Get Your Free USD Forecast
Get My Guide

US Dollar performance gained ground across the board and pushed the US Dollar basket (DXY Index) into positive territory on the day. This follows seven-consecutive days of downside for the broader US Dollar with the USD recently hemorrhaging as GBP/USD & AUD/USD Soar, USD/CAD Sinks.

-- Written by Rich Dvorak, Analyst for DailyFX.com

Connect with @RichDvorakFX on Twitter for real-time market insight

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.