U.S. nonfarm payrolls increased just 138,000

Raymond Merriman, CTA The Merriman Market Analyst

REVIEW

The dollar fell to seven-month lows on Friday after data showed the U.S. economy created fewer jobs than expected last month, which could derail a possible interest rate hike by the Federal Reserve in the second half of this year. The greenback fell to seven-month troughs against euro and Swiss franc… Data showed that U.S. nonfarm payrolls increased just 138,000 last month as the manufacturing, government and retail sectors lost jobs, while the consensus forecast was for 185,000 new jobs. March and April data was revised to show 66,000 fewer jobs created than previously reported. – “Dollar Tumbles to 7-Month Low After Weaker-Than-Expected US Jobs Data,” Reuters, June 2, 2017.

“We all share the same responsibility: make our planet great again!”

We will resume the normal publication of this weekly column by Raymond Merriman next week. Stay tuned! It is going to be one hot summer with the Sun/Mars conjunction in Leo on July 26, and the solar eclipse, conjunct Mars, on August 21! For this week, we are right in the middle of two important Jupiter transits: Sun trine Jupiter (June 2) and Jupiter endings it retrograde motion and turning direct (June 9). In typical Jupiterian fashion, the stock markets of the world are experiencing an excess of euphoria and confidence.

Author

Raymond Merriman, CTA

The Merriman Market Analyst

Raymond A. Merriman is the President of the Merriman Market Analyst, Inc and founder of the Merriman Market Timing Academy.

EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD remains in the positive territory after registering modest gains in the previous session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator at 54 is edging higher, signaling improving momentum. RSI near mid-50s keeps momentum balanced. A sustained push above 60 would firm bullish control.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold sticks to gains above $5,000 as China's buying and Fed rate-cut bets drive demand

Gold surges past the $5,000 psychological mark during the Asian session on Monday in reaction to the weekend data, showing that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Federal Reserve expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.