During today’s early trading session, Asian markets traded higher after the price of oil rebounded. Following the Reserve Bank of Australia’s Monetary Policy statement, the AUD rose after officials signaled the economy will continue to grow at a moderate pace.
European stocks traded lower today after Germany released negative data showing the Industrial Production rose just 0.1%, below the expected figure of 0.4%. European markets continued to fall after the US released the Non-farm Payrolls showing the number of people employed had risen to 257,000, higher than the expected figure of 234,000.
During early American trade the US released the higher than expected Non-farm Payrolls, this data strengthened the Dollar against a basket of major currencies and pushed down the price of precious metals. The positive NFP results could influence the US Federal Reserve to raise interest rates sooner than expected. Gold is currently trading below $1,245/ounce.
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