Account
New to ADSS? Open an
account now to get started.
Already have an account?
Add funds to your ADSS account
Account
New to ADSS? Open an
account now to get started.
Add funds to your ADSS account
What’s happening: The US dollar recorded gains against its major peers on Friday following the release of nonfarm payrolls (NFP) data.
What happened: Data released on Friday showed healthy job growth in May, which signalled that the US Federal Reserve has leeway to wait longer before cutting interest rates.
Tensions eased between US President Donald Trump and Tesla’s CEO Elon Musk after some of the most incendiary social media posts were deleted.
Why it matters: The US Labor Department said that employers added 139,000 jobs in May, lower than the 147,000 job adds in the previous month. However, the figure still topped market expectations of 130,000.
The US unemployment rate came in unchanged at 4.2% in May for the second month in a row, in-line with market projections. The jobless rate has remained within a 4.0%–4.2% range since May 2024. Average hourly earnings grew by 0.4% to $36.24 in May, following a 0.2% gain in April and exceeding market estimates of a 0.3% rise.
The US dollar index, which measures the greenback’s performance versus a basket of major peers, rose around 0.5% to 99.20 on Friday. However, it ended the week in the red.
The US dollar gained more than 0.9% against the Japanese yen to reach 144.85 and climbed around 0.3% versus the Swiss franc to 0.822 on Friday.
Both USD/JPY and USD/CHF recorded gains for the second straight week. Year to date, both forex pairs are down around 8% and 9%, respectively.
While declining versus most of its peers, the US dollar recorded gains against the euro on Friday. The EUR/USD forex pair fell around 0.4% to 1.1396. The euro still ended the week with gains and is up around 10% year-to-date versus the greenback.
The euro had surged to a six-week high of 1.14950 on Thursday after ECB Bank President Christine Lagarde said that the central bank was getting to the end of its monetary policy cycle.
What to watch: Investors await the release of data on US wholesale inventories (1800 UAE Time) and consumer inflation expectations (1900 UAE Time) today. Analysts expect US wholesale inventories to remain flat at $907 billion in April, following a 0.3% gain in March.
US consumer inflation expectations for the year ahead are expected to remain at 3.6% in May, the same as in the previous month.
Context: UK stocks closed higher on Friday, recording gains for the week.
Details: Global market sentiment received a boost from the US reporting better-than-expected nonfarm payrolls data on Friday.
Meanwhile, data released from the UK showed the Halifax House Price Index rose 2.5% year-over-year in May, much lower than April’s 3.2%. This also marked the smallest increase in the index in 10 months. Prices fell 0.4% from the previous month, compared to a 0.3% gain in April, due to an increase in stamp duty tax.
On the corporate front, shares of AstraZeneca edged higher on Friday after the European Union approved the company’s Calquence treatment for leukemia. HSBC’s shares rose around 1% following the departure of its chairman amid ongoing restructuring measures.
Fresnillo was the top performer last week, gaining around 16%, while shares of Babcock International added 13% during the week.
UK’s FTSE 100 rose 0.30% to close at 8,837.91 on Friday, with the index recording gains for the sixth straight day. The domestically focused FTSE 250 Index rose by 0.42% to settle at 21,157.28.
What to watch: Investors await the release of economic data on UK’s unemployment rate, average earnings and employment change on Tuesday. The UK’s unemployment rate, which rose to 4.5% from January to March, is expected to increase to 4.6% in April, while regular pay, excluding bonuses, is expected to increase by 5.5% year-over-year, following a 5.6% gain in the three months to March 2025.
Analysts expect the number of employed people in the UK to increase by 80,000 after rising by 112,000 in the three months ending March.
Other Markets: US trading indices closed higher on Friday, with the Dow Jones index, S&P 500 and Nasdaq 100 up by 1.05%, 1.03% and 0.99%, respectively.
Ukraine said that Russia had launched 206 drones, 2 ballistic and 7 other missiles overnight. The news sent the RUB/USD pair lower in forex trading this morning.
China’s consumer prices fell by 0.1% year-over-year in May, remaining steady for the third straight month, which lent support to the CNY/USD forex pair.
Japan’s current account surplus widened to ¥2,258 billion in April, from ¥2,188 billion in the year-ago period, sending the JPY/USD pair higher in forex trading this morning.
Brazil’s producer prices declined by 0.36% in April. This representing an easing from the 0.62% decline in the previous month lent some support to the BRL/USD forex pair.
US total consumer credit increased by $17.87 billion in April, following a rise of $10.17 billion in the previous month. The latest reading topping market estimates of $10.85 billion sent the Nasdaq 100 higher by around 1% on Friday.
Singapore’s foreign exchange reserves (1300 UAE Time), Mexico’s inflation rate (1600 UAE Time) and auto exports (1600 UAE Time), France’s 12-month BTF auction (1700 UAE Time), 3-month BTF auction (1700 UAE Time) and 6-month BTF auction (1700 UAE Time), US 3-month Bill auction (1930 UAE Time) and 6-month Bill auction (1930 UAE Time), as well as Argentina’s industrial production (2300 UAE Time).
ADSS
8th floor, CI Tower
Corniche Road
PO Box 93894
Abu Dhabi
United Arab Emirates
Trading Services
ts@adss.com
+971 2 657 2414
Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.
ADS Securities LLC – S.P.C (“ADSS”) is authorised and regulated by the Securities and Commodities Authority (“SCA”) in the United Arab Emirates under First Category: Dealing in Securities and Fifth category: Arrangement and advice (Introduction). ADSS is a Limited Liability Company – Sole Proprietorship Company incorporated under United Arab Emirates law. The company is registered with the Department of Economic Development of Abu Dhabi (No. 1190047) and has its principal place of business at 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.
The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.
ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.
