All three US main indices gain more than 3%

Dmitry Lukashov IFC Markets

Dollar weakening slows after strong jobs report

US stock market ended sharply higher on Friday buoyed by Fed chair Powell’s dovish comments and stronger than expected jobs report. S&P 500 rallied 3.4% to 2515, closing 2.0% higher for the week. Dow Jones industrial average rose 3.3% to 23291. The Nasdaq jumped 4.3% to 6671. The dollar weakening slowed as data indicated 312000 new jobs were created in December: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slipped 0.1% to 96.14 and is lower currently. Stock index futures indicate higher openings today.

DAX 30 outperforms other European indices

European stock markets rebounded on Friday. Both the GBP/USD and EUR/USD’s continued their climb with both pairs higher currently. The Stoxx Europe 600 Index rose 2.8%, ending the week 2.2% higher. The DAX 30 rallied 3.4% to 10767.69. France’s CAC 40 jumped 2.7% and UK’s FTSE 100 gained 2.2% to 6837.42.

Nikkei leads Asian indices gains

Asian stock indices are solidly higher today as US and Chinese trade negotiations resumed in Beijing. Nikkeijumped 2.4% to 20038.97 with yen resuming its climb against the dollar. Chinese stocks are advancing: theShanghai Composite Index is up 0.7% and Hong Kong’s Hang Seng Index is 0.9% higher. Australia’s All Ordinaries Index rebounded 1.1% despite the Australian dollar continuing its climb against the greenback.

Brent up

Brent futures prices are extending gains today. Prices ended higher on Friday as the Energy Information Administration reported US crude inventories barely rose last week – just 7000 barrels, while gasoline stocks jumped 6.9 million barrels: Brent for February settlement gained 2.0% to close at $57.06 a barrel Friday.

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.