Monday’s Market Update
The U.S. employment data was released on Friday with higher-than-expected figures, the non-farm numbers were expected to fall from 400,000 to 250,000 jobs, but the actual numbers were way over the expectations at 528,000 new jobs. Meanwhile, the unemployment rate declined from 3.6% to 3.5%.
The U.S. dollar index held ground during the morning trades hovering around 106.40 and supported by the U.S. treasury bonds gains.
Meanwhile, gold also remained above 1,770 this morning despite losing $20 per ounce on Friday as traders worry about further monetary tightening by the Federal reserves.
On the Other hand, WTI dropped below $90 a barrel amid expectations of slower growth in the Chinese economy which will reduce the demand in the world’s second largest oil consumer.
