The USD/JPY pair rallied during the day on Monday, bouncing off of the bottom of the candle on Friday. The AUD/USD pair fell initially during the course of the day on Monday, testing the 0.73 level for support.
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During the session on Monday, the copper markets rallied initially, but turned right back around to form a shooting star.
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Check out the daily USD/CAD Forex signal for Tuesday, June 7, 2016 here.
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The EUR/USD pair rose rapidly during the day on Friday after we got the nonfarm payroll announcement, as the Americans only added 38,000 jobs during the month of May. The GBP/USD pair rose during the course of the session as well, and for the same reason essentially.
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The S&P 500 initially fell during the day on Friday, in reaction to the poor jobs number coming out of America. The NASDAQ 100 also did the same thing, forming yet another hammer.
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The WTI Crude Oil markets initially fell on Friday in reaction to the poor jobs number, but also got a little bit of a boost by a shrinking US dollar. The natural gas markets have shot straight up over the last several sessions, but have gotten a bit overextended at this point.
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The USD/JPY pair fell significantly during the course of the session on Friday, which of course makes sense considering that the jobs number was so bad. The AUD/USD pair broke higher during the day, as the US dollar failed against the Aussie. We closed at the very top of the range, and that looks as if we are going to continue to go much higher.
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Gold prices settled at $1244.18 an ounce on Friday, making a gain of 2.52% on the week, as disappointing U.S. jobs data dimmed the prospect of an interest rate hike by the Fed in the near term.
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