{"id":24889,"date":"2022-04-01T17:52:00","date_gmt":"2022-04-01T16:52:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=24889"},"modified":"2022-04-01T19:08:48","modified_gmt":"2022-04-01T18:08:48","slug":"biden-says-us-economy-is-on-the-move-not-on-the-mend","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/biden-says-us-economy-is-on-the-move-not-on-the-mend\/","title":{"rendered":"Biden says \u201cUS economy is on the move, not on the mend\u201d"},"content":{"rendered":"\t\t
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Market Wrap<\/strong><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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A lot has been made of the US benchmark yield curves recently. With analysts giving guidance that in 18-months\u2019 time we should be seeing the US fall into a recession. Over the course of history, the inversion of the short-term yields over the 10-30 year yields signals that the future looks bleak according to the bond market with disruptions to be expected. Other market participants are highlighting the fact that the stock market usually rallies on the inversion, so for day traders and swing traders we should be on the lookout for that. If the inversion lasts for a full quarter, larger money managers will no doubt become more defensive.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Last month the US unemployment rate fell 0.2 percentage points to 3.6%, from 3.8% in February. The highly anticipated Nonfarm payrolls rose by 431,000 according to today\u2019s report by the Bureau of Labour Statistics and as this figure came in under expectations we have seen a sell-off in risk assets like the US equities. The US dollar did catch a bid and maybe due to the net two-moth revisions which show an additional 95k jobs being added. US average earnings for March ticked up slightly YoY above expectations and came in at 5.6% though the average hourly hours worked slightly ticked down.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The S&P500<\/a> is dragging the rest of the US equities lower and would appear to be correcting the bear market rally. There is little support until we get to just below 4300, so it will be interesting to see how far they push this price action down.<\/p>

On the latest jobs report, Biden said the US economy is no longer “on the mend,” but rather “on the move.” However, he stressed that more needs to be done to “get prices under control,” especially considering Russia’s “invasion of Ukraine.”<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The manufacturing sector in the United States continued to expand in March, but it fell to its lowest level since September 2020. Manufacturing Purchasing Managers’ Index was 57.1%, down 1.5 percentage points from February and lower than expectations. Add this to the recent manufacturing data out of China and we have the world\u2019s two largest economies struggling to keep manufacturing trending higher. If output should start to contract over the course of a few months, we could be in for more supply shocks in the latter stages of the year.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The EURUSD<\/a> is finding support currently at the daily 200-period EMA with a test of the 1.1000 and the 27th<\/sup> of March highs also a good target.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The ActivTrader sentiment indicator for the USDJPY<\/a> is running extremely biased towards the short side. This trade is very crowded, and I am expecting to see the price run up to the 125 and beyond, the longer these traders insist on shorting the bullish wave that started in March.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Market Wrap A lot has been made of the US benchmark yield curves recently. With analysts giving guidance that in 18-months\u2019 time we should be seeing the US fall into a recession. Over the course of history, the inversion of the short-term yields over the 10-30 year yields signals that the future looks bleak according […]<\/p>\n","protected":false},"author":5,"featured_media":24891,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[18,42,306,283,279,324],"yoast_head":"\nBiden says \u201cUS economy is on the move, not on the mend\u201d - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/biden-says-us-economy-is-on-the-move-not-on-the-mend\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Biden says \u201cUS economy is on the move, not on the mend\u201d Biden says \u201cUS economy is on the move, not on the mend\u201d\" \/>\n<meta property=\"og:description\" content=\"The NFP data came out with mixed signals today, but the bond market saw the positive inflation narrative pushing further higher with expectations the Fed will raise by 50bps regardless that the headline figure missed expectations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/biden-says-us-economy-is-on-the-move-not-on-the-mend\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-01T16:52:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-01T18:08:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/04\/gettyimages-1349187664.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"490\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Neville Hornsey\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Biden says \u201cUS economy is on the move, not on the mend\u201d Biden says \u201cUS economy is on the move, not on the mend\u201d\" \/>\n<meta name=\"twitter:description\" content=\"The NFP data came out with mixed signals today, but the bond market saw the positive inflation narrative pushing further higher with expectations the Fed will raise by 50bps regardless that the headline figure missed expectations.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Neville Hornsey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/biden-says-us-economy-is-on-the-move-not-on-the-mend\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/biden-says-us-economy-is-on-the-move-not-on-the-mend\/\"},\"author\":{\"name\":\"Neville Hornsey\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/95b20558021997bd74f4db43fabddf85\"},\"headline\":\"Biden says \u201cUS economy is on the move, not on the mend\u201d\",\"datePublished\":\"2022-04-01T16:52:00+00:00\",\"dateModified\":\"2022-04-01T18:08:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/biden-says-us-economy-is-on-the-move-not-on-the-mend\/\"},\"wordCount\":488,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"EURUSD\",\"Fed\",\"NFP\",\"US manufacturing PMI\",\"USA500\",\"Yields\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/biden-says-us-economy-is-on-the-move-not-on-the-mend\/\",\"url\":\"https:\/\/youtrading.com\/en\/biden-says-us-economy-is-on-the-move-not-on-the-mend\/\",\"name\":\"Biden says \u201cUS economy is on the move, not on the mend\u201d - 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