NAS100 (NASDAQ) 1 HOUR: Limited fallout as well
Fallout from stronger NFP limited while it trades above 29452, helped by US bond yields backing off from spike highs.
Broader look: Limit on downside while 29KJ+ trades but upside limited while below key resistance at 29748, blocks putting 30K back on the radar.

Canada jobs miss (weaker) vs. US NFP beat a double whammy for the CAD

USDJPY found some 📈buyers near the crucial 155.00 level early on Friday, a zone previously defended by FX intervention, following a sharp two-day drop from 160.00.
The focus now shifts to the US nonfarm payrolls report due at 12:30 GMT. While traders remain laser-focused on inflation after Fed Governor Waller pushed September rate-hike odds down to 50%, a solid jobs print could still prompt policymakers to hike rates
Meanwhile, Japan’s top currency diplomat, Atsushi Mimura, reiterated that Tokyo remains on high alert to intervene against excessive yen weakness

Are the vigilantes back?
Bond yields spiked across developed markets this week, with many hitting multi-decade highs, as rising deficits, elevated inflation and a surge of AI-driven corporate debt issuance left traders demanding higher compensation for the risk of holding longer-term government debt.
Far from a moral crusade by fixed income investors seeking to influence fiscal policy, this instead looks like a logical response to the economic facts on the ground, including the dawning reality that borrowing rates in many large markets are likely going to be higher for longer…. Reuters Weekend Bid


COMING UP: Data: German Factory Orders (Jul), EZ Retail Sales (Jul), US Jobs Report (Aug), Canadian Jobs Report (Aug). Speakers: BoE Governor Bailey; ECB’s Lane. Supply: Australia.
US Market Wrap: Dovish Waller sends stocks and bonds higher
SNAPSHOT: Equities up, Treasuries up, Crude up, Dollar down, Gold up

Dutch central bank moves gold bars out of New York over ‘geopolitical unrest’ – FT
DNB prefers London over the US city, pointing to better ‘tradeability’ of bullion
The Dutch central bank has shifted more than 78 tonnes of gold from New York to London in a politically sensitive move, citing “increasing geopolitical unrest”.
The transfer follows calls from European politicians and taxpayer lobbyists to repatriate gold reserves from the US, warning that an unreliable American government under President Donald Trump may otherwise seize them amid growing transatlantic tensions. …/..
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