The NFP number came in far strong than expected on Friday, with the April and May numbers revised upwards as well. This led to a sharp sell off in gold and a surge higher in the dollar, now trading well above key resistance at 84.50.
Gold touched a low of 1208 before recovering a little into the close and is trading around 1225 this morning. Oil has also powered higher and is now trading above $103 a barrel.
With traders returning to their desks after the 4 July holiday in the US, we may see greater trading volume in the markets and a retest of 1180-1200 could be on the cards early this week. A break above last week's high of 1267 would suggest a rise to 1300-1320.
Today's video for subscribers looks at the effect of the NFP number in more detail and our strategy for our next trade.
Gold touched a low of 1208 before recovering a little into the close and is trading around 1225 this morning. Oil has also powered higher and is now trading above $103 a barrel.
With traders returning to their desks after the 4 July holiday in the US, we may see greater trading volume in the markets and a retest of 1180-1200 could be on the cards early this week. A break above last week's high of 1267 would suggest a rise to 1300-1320.
Today's video for subscribers looks at the effect of the NFP number in more detail and our strategy for our next trade.