Feb 05

FUNDAMENTAL ANALYSIS BY NSFX 05.02.2016

  • BY: Donal Kelly
  • February, 05th, 2016 20:28 +00:00

Good evening,

mixed jobs data in US with Unemployment Rate at  4.9% (the consensus was 5%) and NFP at +151k (188k the expectation). Broad weakness on indices, with the Nasdaq Composite down 151.12 points at 4,358.44  (-3.35%).

Crude Oil is also losing ground, with the commodity trading at 30.82 $/ barrel (-2.84%); Gold is gaining 7.2$ thanks to flight to quality trades.  In the FX market EurUsd is down 58 pips and UsdJpy is trading at 116.88 (+0.11%). Heavy losses on kiwi and Aussie dollar, down both around 1.5%. UsdCad trading at 1.3885 (+0.96%) after Canadian job data disappointed the financial community; the Canadian Unemployment Rate is at 7.2%( 7.1% was the consensus).

Today reversal in US indices was triggered by weak earnings of tech companies, thus Nasdaq is underperforming other gauges.

(20:20 GMT)