Markets were hit by a much stronger than expected US jobs report on Friday with the headline non-Farms number coming in with a rise of 272k jobs in May against the expected rise of 185k. US stock indices dropped lower on the day, although still remain at elevated levels whilst treasury yields, and the dollar gained significantly after spending the last few days on the back foot.
The fresh trading week is likely to experience a muted start to the day as key APAC markets Australia and China enjoy long weekends and Wall Streets fall weigh on markets. There is little on the cards in terms of economic events in the latter two sessions either which could lead to weaker conditions across global markets as each session reacts to Friday’s data.
| Market | Change | Close |
| Dow | -0.22% | 38,793 |
| S&P | -0.11% | 5,346 |
| Nasdaq | -0.23% | 17,133 |
| USD | +0.8% | 104.91 |
| US Treasury – 2 Year | +15 bps | 4.870% |
| US Treasury – 10 Year | +15 bps | 4.428% |
| Oil – Brent | -0.31% | $79.62 |
| Oil – WTI | -0.02% | $75.53 |
| Gold | -3% | $2,304 |
Today’s Events:
Asian Session
- Australian Bank Holiday
- Chinese Bank Holiday
European Session
- 7.30 pm – German Buba President Joachim Nagel Speaks
