Not too hot, not too cold

Perfect! That was markets’ reaction after the release of the US job report showing higher-than-expected job creation, enough to be reassuring on growth, but not too strong to fuel inflation fears. Expectations that the Fed would be able to maintain a very accommodating policy even caused bond yields to fall to their lowest level in four months and pushed the USD lower. The EUR/USD exchange rate fell to 1.1808, before rebounding above 1.1850. And of course, US equities reached new highs. Asian markets did not follow overnight, after the Chinese Caixin PMI in services posted a strong decline to just above 50.
PMI in china
Share this news :

You might also read :

January 20, 2021

Stimulus hopes drive crude prices higher

Brent prompt futures edged higher on Tuesday and early Wednesday at 56.2 $/b as US equity markets were on the rise, following Ms. Yellen’s stance…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet?