Turnaround Mondays have often become expected after strong Fridays. There was certainly a green light on Friday, but has the Nonfarm Payroll enthusiasm already dissipated?
Anxieties regarding longer-term inflation have entered the spotlight. The Fed’s easy-money policies and government stimulus spending had juiced growth and momentum into an epic bull run over the last year. However, these equity factors now face substantial risks from bond market volatility.
It’s Jobs Friday and today’s Nonfarm Payroll report for May will prove pivotal. It comes on the heels of April’s disappointment, and those Federal Reserve officials who are more hawkish have again begun talking about tapering bond purchases.
Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.
U.S. benchmarks are now pointing lower and working their way through supports ahead of the bell. Despite exuding a bullish tone, we’ve warned that an inability to hold higher prices will encourage a probing lower.
If you’re sitting with a Tech-heavy portfolio and not rotating or tracking the sector flows, you could be leaving a lot of money on the table— not just over the last 4 months, but maybe over the next 4 years.
Tailwinds are certainly coming from new inflows to start the month, stronger-than-expected Manufacturing PMI from both China and the Eurozone, as well as an improving Covid-19 situation in India.
What type of month-end flows will we see? How does this setup for June? Plus, the data gauntlet also includes the Fed’s preferred inflation indicator, the Core PCE Index, tomorrow.
