General wait and at the opening of markets
This Monday, May 5, investors are advancing measured. The climate of uncertainty hangs over the financial centers pending the announcements of the American federal reserve. Two major events are looming on the horizon: the publication of theindice ISM des services for the month of April and the holding of Fed Monetary Policy Committeeplanned over two days from Tuesday.
Read also: the course of money Has crossed a symbolic threshold this weekend: this is why everything could accelerate today!
Faced with these deadlines, the positions remain cautious. Operators are looking for clear signals on the future orientation of interest rates, in a context of global economic slowdown and renewed geopolitical tensions.
The dollar in slight withdrawal despite an encouraging employment report
L’US dollar index (DXY) finished the week on a positive note, despite a slight decline on Friday. The report on thenon -agricultural employment (NFP), published by the Bureau of Labor Statisticsposted an increase in 177,000 jobs in Aprilexceeding the median expectations of analysts located at 130,000.
This burst was not enough to boost the greenback, weakened by the downward revision of the figures of February and March. The Dxy index remains below 100,00oscillating in an area of uncertainty during the European session in the morning.
The dollar dominates the yen, but retreats to the Pacific currencies
Over seven slippery days, the dollar has strengthened in front of Japanese yenrecording a gain of 0,48 %but gave way to theaussie (AUD: -1.12 %) and at Canadian dollar (-0,39 %).
Currencies of exporting raw materials areas such as theAustralia and the New Zealand have particularly resisted, supported by anticipations of regional economic rebound and a certain decorrelation of Sino-American tensions.
Trade tensions and pressures on the Fed: Trump plays the watch
The American president Donald Trump has multiplied statements this weekend. He suggested that a reduction in Customs duties on China was envisaged in the short term, while threatening to impose a 100 % tax on imported films.
Trump also recalled his disagreement with the current Fed policy. Despite his repeated criticisms, he confirmed that Jerome Powell would remain in office until the end of his mandate in May 2026. This stability relating to the head of the central bank was not enough to reassure the markets, which remain sensitive to any presidential speaking deemed unpredictable.
Climbing in the Middle East: the markets change in Risk-Off mode
The atmosphere increased on Sunday, after a Missile landed near Ben Gurion airport in Israel. The Houthi movement, supported by Iran, claimed the strike. Prime Minister Benjamin Netanyahu has promised a firm response, including against Teheran.
This geopolitical sequence causes renewed risk aversion. THE US clues to US clues lost about 0,5 % In preliminary session this Monday, a clear signal of a tactical withdrawal of investors on the most liquid assets.
Gold exceeds $ 3,260 on a background of global tensions
In this tense context, theor again attracts cover flows. The course has crossed the 3 260 dollars The ounce in the first European exchanges, taking advantage of a conjuncture conducive to refuges values. The yellow metal thus consolidates its status as an active refuge, when the large central banks readjust their monetary trajectories.
According to our expert: markets under tension before the Fed: the dollar scrutinized between American PMI and military climbing
Exchange market: Euro stability, decrease of yen
The EUR/USD pair struggling to display a clear dynamic. She remains confined to a narrow strip above 1,1300pending American macroeconomic figures.
The GBP/USD evolves slightly, slightly under 1,3300after having already closed the previous week in negative territory.
The USD/JPYafter a weekly progression close to 1 %begins a technical correction this Monday, with a decline of more than 0,4 %returning around 144,30.
