Market Snapshot – NFP Turns Out to be Weaker But Dollar Steadies

January 06
07:06 2018

Stock Markets Higher

The stock markets in Europe continued to move higher during the course of the day today as the markets ignored any kind of negativity that is around and chose to focus purely on the strong incoming domestic data which has helped the traders to aim higher. The DAX has been leading the way for the past couple of days as the incoming data from Germany has been quite strong. On the other hand, the inflation data from the Eurozone that was released today, came in weaker than expected but that did not seem to have any impact on the stock markets as they continued to move higher and then the traders have begun to focus on the employment data from the US.

NFP Comes in Weaker

The NFP data from the US came in weaker than expected but the previous reading was revised higher and this helped to keep the dollar steady during the late hours of trading for the week. Even after the release of all kinds of data for the week, we are yet to see any kind of strength from the dollar which continues to chop around for the day. Traders are coming back to their desks after a long holiday and it looks as though the positions have not yet been settled and the market is still searching for direction.

This article was originally posted on FX Empire


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