![What's happening with the NASDAQ, Treasury Yields and US Unemployment? [Video]](https://editorial.fxstreet.com/images/Markets/Equities/Nasdaq/new-york-stock-exchange-18404353_XtraLarge.jpg)
Join ACY Securities Chief Market Analyst, Alistair Schultz, as he shares his insights on global markets. In today's video, he'll be looking at what's happening with the NASDAQ, Treasury Yields being at their highest in a full year. US Unemployment 861,000 Claims – 36k increase, a 4 week high.
Author
Alistair Schultz
Independent Analyst
EUR/USD stays in negative territory below 1.1850 in the second half of the day on Tuesday. Renewed US Dollar strength, combined with a softer risk tone keep the pair undermined alongside downbeat German ZEW sentiment readings for February.
GBP/USD remains under bearish pressure and extends its decline below 1.3600 on Tuesday. The United Kingdom employment data suggested worsening labor market conditions, bolstering bets for a BoE interest rate cut next month and making it difficult for Pound Sterling to stay resilient against its peers.
Gold (XAU/USD) stages a rebound but remains deep in negative territory below $4,950 after touching its weakest level in over a week near $4,850 earlier in the day. Renewed US Dollar strength makes it difficult for XAU/USD to gather recovery momentum despite the risk-averse market atmosphere.
Economists see the headline CPI rising by 2.4% in a year to January, still above the BoC’s target and matching December’s increase. On a monthly basis, prices are expected to rise by 0.1%.
In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.
Stellar price remains under pressure, trading at $0.170 on Tuesday after failing to close above the key resistance on Sunday. The derivatives metric supports the bearish sentiment, with XLM’s short bets rising among traders and funding rates turning negative.
