{"id":170316,"date":"2020-05-11T06:27:50","date_gmt":"2020-05-11T10:27:50","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=170316"},"modified":"2020-05-11T06:27:50","modified_gmt":"2020-05-11T10:27:50","slug":"global-rally-continues-as-white-house-considers-more-aid-after-dismal-jobs-report","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/global-rally-continues-as-white-house-considers-more-aid-after-dismal-jobs-report\/","title":{"rendered":"Global rally continues as White House considers more aid after dismal jobs report"},"content":{"rendered":"
May 11, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

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Top daily news<\/h2>\n
Equity markets\u2019 rising is intact today after Sunday reports President Trump\u2019s administration was holding discussions with Republicans and Democrats in Congress on potential aid to states after April jobs report indicated unemployment jumped to 14.7% due to US job losses unseen since the Great Depression of the 1930s. The White House is \u201cabsolutely\u201d pushing for a payroll tax cut, Treasury Secretary Mnuchin said, despite little congressional support for the proposal.<\/div>\n<\/div>\n<\/div>\n
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Forex news<\/h2>\n
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\n\n\n\n\n\n\n\n
Currency Pair<\/td>\nChange<\/td>\n<\/tr>\n
EUR USD<\/td>\n-0.02%<\/td>\n<\/tr>\n
GBP USD<\/td>\n-0.59%<\/td>\n<\/tr>\n
USD JPY<\/td>\n+0.05%<\/td>\n<\/tr>\n
AUD USD<\/td>\n+1.45%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
The Dollar <\/b> weakening reversed today ahead of inflation report due later in the afternoon. The live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, edged down 0.1% to 99.75 Friday as Labor Department reported unemployment rate jumped to 14.7% from 4.4% in previous month. Both the EUR\/USD <\/a> and GBP\/USD<\/a> continued rising Friday despite report German exports plunged above expected 12% in March, the steepest drop in since 1990. Both pairs are lower currently. USD\/JPY<\/em> and AUD\/USD<\/em> continued climbing on Friday with the dynamics intact for both pairs currently.<\/div>\n<\/div>\n<\/div>\n
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Stock Market news<\/h2>\n
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\n\n\n\n\n\n\n\n
Indices<\/td>\nChange<\/td>\n<\/tr>\n
Dow Jones Index<\/td>\n+0.11%<\/td>\n<\/tr>\n
Nikkei Index<\/td>\n+2.68%<\/td>\n<\/tr>\n
Hang Seng Index<\/td>\n+0.6%<\/td>\n<\/tr>\n
Australian Stock Index<\/td>\n+0.29%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
Futures on three main US stock indexes<\/b> are advancing currently after closing sharply higher on Friday. More companies including Uber, Mitsubishi Electric and Hitachi will report quarterly results today. Stock indexes in US ended higher on Friday : the three main US stock indexes recorded gains ranging from 1.6% to 1.9%. The SP500 currently trades at more than 22 times expected 12-month earnings, according to FactSet. That is a level not seen in roughly 20 years while companies are unwilling to provide guidance on future performance due to heightened uncertainty. European stock indexes <\/em> are extending gains currently. Asian indexes are mostly rising today with Hong Kong\u2019s Hang Seng index <\/em> ahead gaining 1.6% currently.<\/div>\n<\/div>\n<\/div>\n
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Commodity Market news<\/h2>\n
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\n\n\n\n\n\n
Commodities<\/td>\nChange<\/td>\n<\/tr>\n
Brent Crude Oil<\/td>\n-0.78%<\/td>\n<\/tr>\n
WTI Crude<\/td>\n-2.45%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
Brent <\/a> is edging lower today. Oil prices ended higher last session as the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, have started cutting production by 9.7 million barrels a day in May and June. The US oil benchmark West Texas Intermediate (WTI) <\/em> futures ended higher Friday: June WTI <\/em> gained 5.1% but is falling currently. July Brent <\/em> crude closed 5.1% higher at $30.97 a barrel on Friday, booking a 17.1% gain for the week.<\/div>\n<\/div>\n<\/div>\n
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Gold Market News<\/h2>\n
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\n\n\n\n\n
Metals<\/td>\nChange<\/td>\n<\/tr>\n
Gold<\/td>\n-0.25%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
Gold <\/b> prices are extending losses today. June gold lost 0.7% to $1713.90 an ounce on Friday.<\/div>\n<\/div>\n<\/div>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n

Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Top daily news Equity markets\u2019 rising is intact today after Sunday reports President Trump\u2019s administration was holding discussions with Republicans and Democrats in Congress on potential aid to states after April jobs report indicated unemployment jumped to 14.7% due to US job losses unseen since the Great Depression of the 1930s. The White […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-170316","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=170316"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170316\/revisions"}],"predecessor-version":[{"id":170320,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170316\/revisions\/170320"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=170316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=170316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=170316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}