Bearish market mood ahead of US CPI data
Even with strong Nonfarm Payrolls readings, lackluster economic data in other areas had investors pessimistic about a soft landing. As for US inflation data, market consensus had the core CPI retain 0.4% month-on-month growth, with the annual CPI growth rate slowing to 6.2%.
Mixed data also led to mixed stock market performance. The Dow Jones Industrial Average increased 169 points (+0.50%) to 33,869. The S&P 500 added 8 points (+0.22%) to 4,090, and the Nasdaq 100 dropped 76 points (-0.62%) to 12,304.
GBP/USD declined 64 pips to 1.2058. Last Friday, UK GDP recorded a 0.4% year-on-year increase, though the monthly reading contracted by -0.5%, falling below Mitrade's expectations. EUR/USD fell 61 pips to 1.0677, and AUD/USD traded 17 pips lower to 0.6919. USD/CAD plunged 111 pips to 1.3344, and USD/JPY slid 21 pips to 131.41.
Spot gold closed $4 higher at $1,865.93 an ounce, and WTI oil futures moved up to $79.72 a barrel. Bitcoin and Ethereum were last traded at $21,752.0 and $1,511.76 respectively.
Mixed data also led to mixed stock market performance. The Dow Jones Industrial Average increased 169 points (+0.50%) to 33,869. The S&P 500 added 8 points (+0.22%) to 4,090, and the Nasdaq 100 dropped 76 points (-0.62%) to 12,304.
GBP/USD declined 64 pips to 1.2058. Last Friday, UK GDP recorded a 0.4% year-on-year increase, though the monthly reading contracted by -0.5%, falling below Mitrade's expectations. EUR/USD fell 61 pips to 1.0677, and AUD/USD traded 17 pips lower to 0.6919. USD/CAD plunged 111 pips to 1.3344, and USD/JPY slid 21 pips to 131.41.
Spot gold closed $4 higher at $1,865.93 an ounce, and WTI oil futures moved up to $79.72 a barrel. Bitcoin and Ethereum were last traded at $21,752.0 and $1,511.76 respectively.