Top Things to Know in the Market on Friday

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At 13:30 (GMT), data on total new non-farm jobs created (USA) will be published. This event is likely to impact XAU/USD significantly. We consider it reasonable to place pending buy and sell orders just above / below the current price right now. As soon as the data is released, one of your two orders will activate and start moving in the right direction. You can find more detailed information on this particular trading method in the following video tutorial:http://theblockone.com/b

Gepostet von Libertex am Freitag, 8. März 2019

This event is likely to impact XAU/USD significantly

We consider it reasonable to place pending buy and sell orders just above / below the current price right now. As soon as the data is released, one of your two orders will activate and start moving in the right direction.


Here are most important things you need to know about the financial markets on Friday, March 8

Another solid job report is expected focusing on wages

All eyes are on the February US Employment Report, which will be released at 8:30 am ET (1:30 pm GMT) and is expected to see another solid month of growth, although staff growth is slowing.

Economists forecast that the economy has increased by 181,000 jobs over the past month, slightly reducing the unemployment rate to 3.9%.

Subject to a large swing or absence of payroll, the market focus should be on wage growth, which is expected to heat up in February. Wage inflation has lagged behind expectations in light of the tense US labor market, so the Federal Reserve is patient with policy tightening.

Average hourly wages are expected to increase by 0.3% during the month, which represents a gain of 3.3% over the previous year. Politicians closely monitor annualized values ​​to measure inflationary pressures.

Released at the same time, traders will pay close attention to the data that estimates the fragility found on the real estate market.

Economists expect housing starts to rise 9.9% in January. However, building permits, an indicator of future demand, are expected to have fallen by 2.9%.

China contributes to the global economic crisis

China continued to show signs of economic weakness overnight with February trading data. Exports declined most in three years, while the world’s second largest economy and the largest trading nation were in decline for the third consecutive month.

The data added concerns about the global economic outlook after China had lowered its growth forecast for 2019 to 6% to 6.5% earlier this week, compared to 6.6% in 2018.

Trade development was no longer encouraging when the US ambassador to Beijing told the media that a summit meeting between Presidents Donald Trump and Xi Jinping had been pushed back for the rest of the month as both sides were not confident of holding a meeting to reach deal by then.

Stocks fall as China data intensifies fears of global slowdown

Chinese trade data raised concerns over the global slowdown and eased stocks on Friday. Asian stocks fell, with China’s Shanghai Composite leading the way down 4.4%, while Japan’s Nikkei fell 2%.

European equities followed the general malaise as a surprise slump in German factory orders bolstered the mood and pushed indices lower.

US futures also pointed to less openness as investors waited for the latest US labor market outcomes. At 5:39 ET (10:39 GMT), the blue-chip Dow future fell 97 points or 0.38%, while the S & P 500 futures lost 11 points or 0.40% during the NASDAQ 100 futures fell 37 points or 0.53%.

Oil companies are particularly in focus after the Norwegian government said its sovereign wealth fund should sell its stake in oil and gas companies to focus on greener investments.

The Euro is trying to recover from 21-month lows

The euro saw a slight rebound against the dollar on Friday, recovering from the 21-month lows that had fallen the day before. The European Central Bank lowered its growth forecasts and did not convince the markets that their plans to support lending would provide meaningful support to the economy.

EUR / USD gained 0.20% at $ 1.1213 (10:40 am CET). It had reached a low of $ 1.1171 overnight, the lowest value against the dollar in nearly two years.

The ECB’s forecast confirmed the market’s fears of a global slowdown, further compounded by overnight Chinese data and its actions. However, calming the nerves should only draw attention to the lack of progress in the region in addressing its institutional and structural shortcomings.

Mixed European data released on Friday allowed the single currency a breather. An unexpected decline in German factory orders was apparently offset by better-than-expected industrial production data from the eurozone’s three largest economies, France, Italy and Spain.


Here are most important things you need to know about the financial markets on Friday

Top Things to Know in the Market on Friday 8 March

One comment

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