Oil tumbles on disappointing jobs data

Henry Liu Updated on
Tweet
Share
Share
Pin
0 Shares

Shared by Henry

How are commodities such as Crude Oil getting affected by US Job data? Since USD is a safe-haven currency, a worse job number actually boost demand for US Treasuries, and that in turn makes all commodities weaker… why? because all commodities, Gold, Crude, etc… are pegged to the USD. so better USD means automatic worse commodities.

Oil prices dropped Friday after a government report said almost all of the jobs added last month were temporary Census workers, and the euro fell to a 4-year low.

Tweet
Share
Share
Pin
0 Shares
Henry Liu

My name is Henry Liu, and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; my goal (and vision) is to educate every trader on how to take advantage of news trading and become more balanced traders.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *