S&P 500 : Monthly US employment report reassures
Check out the trading range breakout
3022 / 3050
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U.S. futures contracts have just been on an upward trend, following the release of the monthly employment report, which is better than expected. The unemployment rate came out at 3.6% but 128K jobs were created (90K consensus). Last month’s figure was also revised to the hause from 136K to 180K. As for the hourly wage, it increased by 0.2% while the market was expecting 0.3%.
The S&P500 index, which ended down 0.3% yesterday, amid uncertainties about a possible Sino-American trade agreement, is now expected to rise by 0.4%.
Operators will still be aware of the Final PMI Manufacturing Index at 14:45 (consensus 51.5) then the manufacturing ISM at 15h, anticipated at 49 (47.8 last month).
Graphically, as mentioned last, the exit direction of 3022/3050 points should be determined for the future orientation.
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