Friday's U.S. non-farm payrolls data was surprisingly good, adding 1990,000 people, exceeding market expectations of 180,000. This data strengthened consumer confidence and also allowed the dollar index to recover. However, the performance has been bleak in the short term and continues to test the support of the 2000 line. At the same time, there is a lack of obvious game-breakers.
Non-farm payrolls
In terms of the US dollar, although the non-farm payrolls data exceeded expectations, the dollar index has no intention of further upward attack. The market is currently focused on several central bank meetings, and the Fed is not expected to take substantive action at this meeting, but the policy statement will remain in focus.
The U.S. market has performed strongly, especially in technology stocks. The Dow Jones rose along the 10-day line and maintained support at 36,000, suggesting a continuation of the bullish rhythm. The short-term outlook for the Nasdaq 100 and S&P 500 is also on the upside.
* Facing the test, the market's correction of the Fed's interest rate cut expectations has made ** lack of firepower in the short term. From a technical point of view, the ** range is narrowed, the support is around 2010, and the break is to look down at the 2000 line. At present, the stage ** is testing the support of the 2000 line, if it cannot be stabilized, the downward support is recommended to see the 1980 line.
* The market lacks catalysts, the overall demand is weak, and the OPEC+ meeting on the supply side will determine the pace of oil price recovery. From a technical point of view, oil prices are currently in a relatively unrhythmic state, and if it breaks 70 again, the downside may still test 67.