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: US Dollar to remain pressured until uncertainty fog dissipates

Unimpressive European Central Bank left monetary policy unchanged for the fifth consecutive meeting. The United States first-tier employment and inflation data is scheduled for the second week of February. EUR/USD battles to remain afloat above 1.1800, sellers moving to the sidelines.

GBP/USD softens to near 1.3600 as BoE hints further rate cuts

The GBP/USD pair loses ground to near 1.3610 during the early Asian session on Monday. The Pound Sterling softens against the Greenback amid growing expectations of the Bank of England’s interest-rate cut. Traders will take more cues from the Fedspeak later on Monday.

Gold eyes acceptance above $5,000, kicking off a big week

Gold is consolidating the latest uptick at around the $5,000 mark, with buyers gathering pace for a sustained uptrend as a critical week kicks off. All eyes remain on the delayed Nonfarm Payrolls and Consumer Price Index data from the United States due on Wednesday and Friday, respectively.

Top Crypto Gainers: Aster, Decred, and Kaspa rise as selling pressure wanes

Altcoins such as Aster, Decred, and Kaspa are leading the broader cryptocurrency market recovery over the last 24 hours, as Bitcoin holds above $70,000 on Monday, up from the $60,000 dip on Thursday.

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.