Despite strong US data and a job shortfall, the markets are behaving in unexpected ways. The US Dollar is down, while crude oil and gold prices are up. The 30 Year T-Bond is trading lower, which is not correlated with the financials. The markets' lack of correlation indicates that something is wrong [e6f5ad92].
The jobs report showed that the US economy created fewer jobs than expected, yet the markets closed higher. This suggests that the Federal Reserve may pause rate hikes. The EUR/USD and GBP/USD pairs are trading higher due to a weaker US dollar. Gold is struggling to benefit from the weakness in the US dollar. Cardano has seen increased activity in ADA tokens [e6f5ad92].
The USD/JPY currency pair is showing a double top pattern, indicating a potential recovery in bonds. The EUR/USD pair is trading higher, supported by a positive opening in Wall Street. The GBP/USD pair has retreated from its recent high due to a lack of demand for the US Dollar. Gold prices have dropped below $1,990 as the 10-year US Treasury bond yield rises. Cardano has seen an increase in daily active addresses and trade volume. The economic data calendar in the US is relatively light, with the focus on Treasuries. Trading foreign exchange carries a high level of risk and may not be suitable for all investors [e6f5ad92] [64827b95] [128aa3e4] [5bad8e41].