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US Job Growth in Trouble NFP Misses Forecast, GBP/USD jumps higher

Jun 7, 2019 (12:46)

by John Knobel

Weak US Jobs data supports the view that the US Federal Reserve will shift interest rate policy and cut interest rates in September.

USD Index multi-month uptrend at risk as USD weakens on speculation lower US interest rates will drive investors out of the USD to look for higher returns.

Gold price jumps +$26.8 last 30 days

Dow Jones 30 falls -2.5% last 30 days, however lower US interest rate prospects offers stock market speculators hope that lower USD interest rates may provide a boost for US stock markets??

GBP/USD Technical Commentary: (Daily Chart) GBP/USD holding above the 1.2573 December 2018 to May 2019 support; current price 1.2747 trading above the 4, 9 and 18 moving averages (Bullish) and above the 1.2737 resistance (Bullish), RSI momentum indicator crossed above its moving average (Bullish Signal); key Pivot at 1.3085. Long positions can be technically supported provided price can hold above the 1.2573 support for potential test of the 1.3085 pivot.

The original content of this Market Update is done in the English language. Any other language translation is provided for the sake of convenience. In case of any inconsistencies between the original English version and any other language, the original English version shall prevail.

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