Forex analytics and overview
Post-NFP, Both Stocks and the US Dollar Are Coming Lower — What’s Happening?
2024.08.02 17:15
US jobs data () disappointed where it comes out 114K vs 176K expected, while the unemployment rate changed from 4.1% to 4.3%.
We can see the – DXY coming lower, breaking new intraday lows, but along with stocks, as we are still in risk-off sentiment.
At the same time, and metals remain as safe haven assets, because US Notes is now extending strongly higher with space for more gains.
We believe that DXY might stay under bearish pressure within a new five-wave bearish impulse, especially if we will get stabilization in the SP500 after it fully completes a corrective decline.
