Strong US NFP Triggers Sharp Cross-Asset Selloff
The May US nonfarm payrolls report released on June 5 sparked the sharpest cross-asset selloff in over a month, with markets reacting to the strong employment data.
The first week of June saw a single macro trigger dominate financial markets: the US May nonfarm payrolls report, released on Friday, June 5. What initially appeared to be a routine end-of-week data print turned into the sharpest cross-asset selloff in more than a month.
The strong jobs report pressured risk assets across the board, driving a broad market decline. The dollar strengthened as traders priced in a more hawkish Fed outlook, while equities and commodities sold off.
Source: FXStreet Forex News