POST NFP OUTCOME OVER THE PAIRS:

Post author By manishaxtream
Post date June 7, 2021

POST NFP OUTCOME OVER THE PAIRS:-

Weaker-than-expected nonfarm payrolls report sent equities higher and lowered the Dollar on Friday. Futures markets are also pointing towards firmer open in Asia today,

Gold recouped around two-thirds of Thursday’s selloff and prices remain above the trend line support from March low. Now support is at the place around 1855, watch for the break above Friday’s high to suggest bullish trend prolongation. Dollar falls broadly after US Payrolls forecast. The British pound also fell in tandem with the euro from 1.4111 in Australia to a 2-week low of 1.4083 in Asia. However, the GBPUSD pair then rebounded to 1.431 from Europe on cross-buying in sterling and then jumped to session highs of 1.4200.

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