Loading…
US nonfarm payrolls rose 2.5 million in May, far above forecasts of a loss, and the unemployment rate fell to 13.3%. Asian and US equity futures rose, and oil gained after OPEC+ agreed to extend output cuts.
A stronger US labor market supports the economic recovery and fuel demand outlook, which is supportive for energy and risk assets and can firm the dollar.
aljazeera.comNews AgenciesJun 8, 2020After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
