- By late US session on Friday, markets had reversed moves from the US strike on Syria. Gold reversing it’s $19 move as markets turned their attention to Trump and Employment figures.
- A mixed Non-Farm Payrolls report eventuated, with a 98K actual Vs 180K forecast. With unemployment falling 0.2% and average hourly earnings relatively steady, US equity markets weren’t phased.
- US dollar shrugs off last weeks’ dovish Fed meeting, healthcare bill failure, weak employment numbers and Syria bombing on Friday – has rallied in 10 of the last 11 sessions.
- US Navy strike group, including aircraft carrier, moving toward Korean peninsula over concerns over NK’s weapons program.
- China’s Xi urges trade cooperation in first meeting w Trump; Trump says relationship w Xi outstanding. They developed a 100-day plan to address trade issues.
- More signs of UK slowdown appear as Brexit gets under way, UK Manufacturing Production down 0.4 to -0.1%. The Pound hasn’t recovered falls from Fridays session – approaching the 1.233 level. UK CPI tomorrow 6:30PM AEST, if weak, will pressure currency further.
- Standard Chartered suggesting buying AUD/NZD, they recommend a medium-term, long at 1.0850; target 1.1300; stop loss 1.0690.
- AUD/USD weakness continues – weaker iron ore prices, a strong USD and dovish RBA adding to downside.
- EUR/USD break 1.06 level as French election race tightens, poll shows top three candidates within 6 percentage points.
- ASX200 could look to break the 6,000 level this week if US equities and USD remain bullish and short sellers get caught out.
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