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Weak US Jobs Data Supports Stocks; Lowers the USD; Precious Metals Jump Higher

Jun 7, 2019 (14:22)

by John Knobel

US Stocks charging higher after weak US Jobs data strengthens the case that the US Fed will move to cut interest rates in September

Stock markets set to get a boost higher as traders re-price assets on speculation lower USD interest rates on the way;
Lower interest rates can help lift corporate profits

USD/CAD turns negative after US weak jobs growth; CAD gains on speculation OPEC will support Oil prices; USD/CAD downside near 1.3342; current price 1.3277.

SP500 upside momentum turns positive; current price 2565.5; upside near 2895 resistance; supports 2690 and 2630

Silver still has room to move higher? Weakness in the USD providing uplift for silver prices; current price trading above its multi-month downward trend line (Bullish)

The original content of this Market Update is done in the English language. Any other language translation is provided for the sake of convenience. In case of any inconsistencies between the original English version and any other language, the original English version shall prevail.

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