Nonfarm Payrolls surprise reduce recession fears
EUR/USD 🔽
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The US economy has shown remarkable resilience through robust data, with Nonfarm payrolls readings of 517,000, exceeding Mitrade's expectations of 185,000. As a result, investors are less worried about a recession than continuing rate hikes from the Federal Reserve.
The greenback then extended its rally to its peers. USD/CAD added 81 pips to 1.3496, and USD/JPY surged more than 200 pips to 131.17. EUR/USD declined 117 pips to 1.0793, while GBP/USD and AUD/USD plunged over 150 pips to 1.2051 and 0.6919 respectively.
Spot gold took heavy losses after falling to $1,864.93 an ounce, and WTI oil futures also traded lower to $73.39 a barrel. Bitcoin slipped below the $23,000 level and is currently trading at $23,017.0. Ethereum was last trading at $1,634.07.
Despite disappointing earnings results, Apple's (AAPL) share prices still rose above the $150 level to 154.50, though not enough to prevent the Nasdaq 100 from plunging 229 points (-1.79%) to 12,573. The S&P 500 dropped 43 points (-1.04%) to 4,136, and the Dow lost 127 points (-0.38%) to 33,926.
GBP/USD 🔽
AUD/USD 🔽
USD/CAD 🔼
USD/JPY 🔼
XAU 🔽
WTI 🔽
BTC 🔽
ETH 🔽
The US economy has shown remarkable resilience through robust data, with Nonfarm payrolls readings of 517,000, exceeding Mitrade's expectations of 185,000. As a result, investors are less worried about a recession than continuing rate hikes from the Federal Reserve.
The greenback then extended its rally to its peers. USD/CAD added 81 pips to 1.3496, and USD/JPY surged more than 200 pips to 131.17. EUR/USD declined 117 pips to 1.0793, while GBP/USD and AUD/USD plunged over 150 pips to 1.2051 and 0.6919 respectively.
Spot gold took heavy losses after falling to $1,864.93 an ounce, and WTI oil futures also traded lower to $73.39 a barrel. Bitcoin slipped below the $23,000 level and is currently trading at $23,017.0. Ethereum was last trading at $1,634.07.
Despite disappointing earnings results, Apple's (AAPL) share prices still rose above the $150 level to 154.50, though not enough to prevent the Nasdaq 100 from plunging 229 points (-1.79%) to 12,573. The S&P 500 dropped 43 points (-1.04%) to 4,136, and the Dow lost 127 points (-0.38%) to 33,926.
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