Fundamental news is often cyclical and the importance of one type will vary according to where we are in the economic cycle. In addition, such items may be overshadowed by more prescient news, and this is certainly the case at present with Coronovirus dominating world headlines and driving fear in the markets. So it was no surprise to see the monthly NFP release have little impact on US indices, which paused momentarily before continuing their journey South as we can see across the three sisters here of the YM emini, the NQ emini and the ES emini. Note the weakness in the reaction higher on the 5m charts to the top of the image.
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