Crude oil

The U.S. non-farm payroll (NFP) data for April, have missed the estimates and provided little support to the dollar rally, coming mainly from the drop in the employment rate from 4.1 percent last month to 3.9 percent. The dollar maintained its strength as monetary policy divergence is expected to be wider between the Fed and other central banks.

The EUR/USD is trading at 1.1950 after a week heavy with economic released and the release of the U.S. Federal Reserve’s rate statement. European data continues to disappoint, and the pair hit a new low by falling to 1.1910 on NFP announcement. The pair keeps the offered tone at the beginning of the week and seems stable around 1.1950 level.

The Japanese yen seems immune to dollar’s strength, has dipped to 109.20 after testing highs near 110.04 last week. Bank of Japan’s Minutes from the latest meeting released ahead of the weekly opening, and as it was expected, left its monetary policy unchanged and no changes to its Japanese Government Bond.

The GBP/USD pair is trading at 1.3537 starting the week with little on the economic schedule, awaiting the BoE’s Super Thursday, a highly-anticipated monetary policy meeting for the UK.

Gold prices edged higher as the US Dollar has temporarily paused its broad rally, and spiked up to $1319, before retreating to $1315 ahead the European market session.

Oil prices hit their highest in more than three years as global supplies remained tight and the market awaited news on fears that President Trump is set to walk away from the 2015 Iran deal (set to expire on May 12).