Advertisement
By Chris Becker
The biggest event on the economic calendar – US unemployment or non-farm payrolls (NFP) – on Friday night shook up risk markets as the strong print markedly reduced expectations of further interest rate cuts by the Federal Reserve. This saw the USD soar, Treasury yields also increased, with gold smashed back below $1400USD per ounce.
For Asian markets this puts a significant headwind into this week’s trading with futures indicating sluggish starts to most share markets.
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe