US Non-Farm Payrolls miss forecasts and Unemployment Rate rises: Market impact analysis

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Previous Trading Day’s Events (02.08.2024)

Switzerland Inflation Rate MoM: Consumer prices fell 0.2% in July 2024, meeting market expectations, after being flat the previous month.

US Average Hourly Earnings MoM: Increased by 0.2% to $35.07 in July 2024, up 8 cents, but below the expected 0.3% gain.

US Non-Farm Payrolls: Added 114K jobs in July 2024, missing forecasts of 175K and down from 179K in June.

US Unemployment Rate: Rose to 4.3% in July 2024, up from 4.1%, surpassing expectations and marking the highest rate since October 2021.

Exxon Mobil Corp: Reported EPS of $2.14, beating the forecast of $2.03, and revenue of $93.06 billion, exceeding the expected $90.46 billion.

Winners Vs. Losers 

On August 2, 2024, the top performer was EUR/AUD, gaining +0.21% with a rise of +35.8 pips. Conversely, the biggest loser was AUD/JPY, dropping -1.04% with a decline of -99.5 pips.

News Reports Monitor – Previous Trading Day (02.08.2024)

Server Time / Timezone EEST (UTC+03:00)

Tokyo Session: No news

London Session 

  • Switzerland Inflation Rate MoM: Consumer prices fell 0.2% in July 2024, meeting market expectations. Bearish impact at 6:30 am GMT.

      

    New York Session:

  • US Average Hourly Earnings MoM: Increased by 0.2% to $35.07 in July 2024, up 8 cents, but below the expected 0.3% gain. Bearish impact at 12:30 pm GMT.
  • US Non-Farm Payrolls: Added 114K jobs in July 2024, missing forecasts of 175K and down from 179K in June. Bearish impact at 12:30 pm GMT.
  • US Unemployment Rate: Rose to 4.3% in July 2024, up from 4.1%. Bearish impact at 12:30 pm GMT.
  • Exxon Mobil Corp: Reported EPS of $2.14, beating the forecast of $2.03, and revenue of $93.06 billion, exceeding the expected $90.46 billion. Bullish impact.
  •  

    General Verdict:

  • London Session: Switzerland’s inflation rate fell 0.2%, aligning with expectations; bearish impact.
  • New York Session: US economic indicators missed forecasts: hourly earnings, non-farm payrolls, and the unemployment rate were all bearish, while Exxon Mobil Corp reported strong earnings, a bullish impact.
  •   

    FOREX MARKETS MONITOR

    EURUSD (02.08.2024) 15m Chart Summary

    Server Time / Timezone EEST (UTC+03:00)

    Price Movements

    EUR/USD displayed a bullish trend, opening at 1.07871 and closing at 1.09103. It reached a high of 1.09263 and a low of 1.07802.

    CRYPTO MARKETS MONITOR

    BTCUSD (02.08.2024) 15m Chart Summary

    Server Time / Timezone EEST (UTC+03:00)

    Price Movements

    BTC/USD showed a bearish trend. It opened at $64,732.73, closed at $62,558.29, peaked at $65,566.76, and hit a low of $62,051.91.

    Stocks MARKETS MONITOR

    Exxon Mobil Corp ( NYSE: XOM ) (02.08.2024) 15m Chart Summary

    Server Time / Timezone EEST (UTC+03:00)

    Price Movements

    Exxon Mobil displayed a bullish trend, opening at $116.36, closing at $117.06, reaching a high of $118.83, and a low of $115.36.

    Equity MARKETS MONITOR

    S&P 500 (02.08.2024) 15m Chart Summary

    Server Time / Timezone EEST (UTC+03:00)

    Price Movements

    The S&P 500 was bearish, opening at $5,437.44, and closing at $5,334.26, with a high of $5,437.44 and a low of $5,302.24.

    COMMODITIES MARKETS MONITOR

    USOIL (02.08.2024) 15m Chart Summary

    Server Time / Timezone EEST (UTC+03:00)

    Price Movements

    USOIL exhibited a bearish trend, opening at $76.34, and closing at $73.60, with a high of $76.79 and a low of $72.53.

    News Reports Monitor – Today Trading Day (05.08.2024)

    1. Tokyo Session: No relevant data.

    2. London Session: No relevant data.

    3. New York Session: United States ISM Services PMI forecasted at 51.4, release at 14:00 GMT.

    General Verdict:

  • No significant data for the Tokyo and London sessions, while the New York session highlights the upcoming release of the US ISM Services PMI, forecasted at 51.4.
  • Source:

    https://www.bfs.admin.ch/

    https://www.bls.gov/

    http://www.bls.gov/

    http://www.bls.gov/

    https://www.investing.com/equities/exxon-mobil-earnings

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