Single Currency Rises, German Factory Orders Disappoint
The single currency has improved. Euro/Dollar pair lifted 0.32% to trade at 1.2407. German Factory Orders increased 3.8%. Today, the US will release JOLTS Job Openings. Tomorrow, Germany will present Industrial Production. US Nonfarm payrolls grew to impressive 200K. Wage growth stayed at 0.3%. Jobless rate maintains at 4.1%.
Equities are under serious selling pressure. DOW fell -1175.21 pts (-4.6%) at 24345.75. But, the greenback has recovered from a long period of volatility. Some analysts say that stocks declined due to possible policy changes. As we know, Jerome Powell has officially taken over as the Fed Chair. But, his guideline is expected to be similar to Janet Yellen’s one. March rate hike remains in store, with odds standing at 80%.