Markets on Friday: The USD Waits on Jobs and Tariffs
Rowan Crosby • 1 min read
Markets were busy, again yesterday but come days end there wasn’t too much to show for it. As we roll into Friday, the USD will be particularly focused on the US jobs report.
Yesterday, the ADP number came in slightly below expectations at 166K new jobs for the month. Which might be a poor lead-in for the headline.
The NASDAQ was again the big lagger on Wall Street with tech stocks doing the damage once again. All the big names fall and this will again follow through in Asia, which copped a big hit yesterday.
We also have the end of the comment period on Trump’s tariffs with China. This could very well mean a Tweet coming very soon about how the new tariffs will start immediately. Such was his threat in the past.
The USD is Square
The DXY ran into the support turned resistance level at 95.50 and ultimately eased its way back to 95.00 with not all that much fuss.
95.00 will provide some support, but technicals do go out the door around big numbers and any tariff developments.
So tread carefully to close out the trading week.