The Trading Pair

Market update - February 6th

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Welcome to your quick market recap for Thursday, February 6th!

  • German Factory Orders soared 6.9%, crushing the 1.9% forecast and rebounding from last month’s slump. However, Eurozone Retail Sales disappointed, dipping -0.2%.
  • UK: The Bank of England held rates steady at 4.50%, with a unanimous 9-0 vote, signaling a cautious stance. Meanwhile, Construction PMI dropped to 48.1, entering contraction.
  • US Data: Unemployment claims climbed to 219K (above the 214K forecast), while Labor Costs jumped 3.0%, raising inflation concerns.
    • DXY Outlook: Mixed US labor data and rising costs could keep the Dollar Index (DXY) steady, with traders eyeing upcoming Fed speeches.
    • Commodities & Crypto:

      • That’s your quick market rundown—stay tuned for more updates!

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      The Trading PairBy Jayanjan Mukherjee