A healthy US jobs report way above the 200K street estimate, marked the end of an eventful week Friday, after equities and commodities tumbled earlier this week as concerns over China’s economic growth ignited another massive global sell-off.
LCG analyst Ipek Ozkardeskaya discusses this week’s broad-based sell-off, whether it is over, and whether or not oil prices can and will go lower. She also discusses CNY depreciation and the market’s reaction to the NFP read of 292K jobs having been added to the US economy in December.
As we head into next week, all eyes will remain on China as Chinese inflation and PPI data is released over the weekend, while sterling will also be one to watch with the release of UK manufacturing and industrial production data on Tuesday, followed by the Bank of England meeting on Thursday. Watch the week ahead as Ipek gives key levels to watch for brent crude oil, EURUSD, EURGBP and GBPUSD.