Slowed Nonfarm Payrolls weakened the greenback
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After numerous rounds of voting, the US Congress finally elected a speaker. Meanwhile, the Nonfarm Payrolls reading for December was 223,000. The number was slightly higher than Mitrade's estimate of 220,000, but the steady decline in recent months is indicative of a slowed economy.
Thus, investors anticipated that the Federal Reserve would carry out smaller rate hikes, and major currencies rallied against the US dollar. GBP/USD rose 190 pips to 1.2098, as the Euro and Aussie added over 120 pips against the greenback to 1.0644 and 0.6875 respectively. USD/CAD dipped more than 120 pips to 1.3442, and USD/JPY plunged 132 pips to 132.07.
The Nasdaq 100 added 299 points to 11,040. The S&P climbed 86 points to 3,895, and the Dow increased 700 points to 33,630.
Spot gold climbed to $1,865.97 an ounce. U.S. WTI oil futures traded slightly higher at $73.77 a barrel. Bitcoin just rose to $17,190.0.
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔽
USD/JPY 🔽
XAU 🔼
WTI 🔼
After numerous rounds of voting, the US Congress finally elected a speaker. Meanwhile, the Nonfarm Payrolls reading for December was 223,000. The number was slightly higher than Mitrade's estimate of 220,000, but the steady decline in recent months is indicative of a slowed economy.
Thus, investors anticipated that the Federal Reserve would carry out smaller rate hikes, and major currencies rallied against the US dollar. GBP/USD rose 190 pips to 1.2098, as the Euro and Aussie added over 120 pips against the greenback to 1.0644 and 0.6875 respectively. USD/CAD dipped more than 120 pips to 1.3442, and USD/JPY plunged 132 pips to 132.07.
The Nasdaq 100 added 299 points to 11,040. The S&P climbed 86 points to 3,895, and the Dow increased 700 points to 33,630.
Spot gold climbed to $1,865.97 an ounce. U.S. WTI oil futures traded slightly higher at $73.77 a barrel. Bitcoin just rose to $17,190.0.
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