© Reuters.

Key Points

  • FTSE 100 closing price of 7067.80, +0.05%
  • Airlines mostly lower after UK travel plans
  • NFP weighs on USD, US yields
  • Commodities higher on soft USD
  • Cryptos suffer from Musk tweet

By Samuel Indyk

Investing.com – The finished unchanged in relatively quiet trade despite Friday’s nonfarm payrolls report.

were again in focus after the government confirmed its international travel plans which included removing Portugal from the ‘green’ list and failed to add any new countries. The news disappointed those in the aviation industry including EasyJet (LON:), Wizz Air (LON:) and jet engine manufacturer Rolls-Royce (LON:).

After being lower for much of the morning, the FTSE 100 edged higher after the US report which saw solid job growth but maybe not strong enough to encourage the to taper asset purchases sooner rather than later. Some analysts described the jobs report as a “goldilocks” scenario.

The data weighed on the USD with the dropping back towards 90.00 before finding support. GBP was one of the main beneficiaries with briefly trading back above 1.42 before paring some of the gains.

US yields declined after the data with the yield dropping 5 basis points to its lowest level since 27th May. As the USD weakened, spot was a beneficiary with the testing $1900 to the upside.

and crude futures were also benefitting from the weaker USD, alongside hopes that oil demand will start to pick up as countries reopen over the summer. WTI was close to trading with a 70 handle for the first time since October 2018.

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Major cryptocurrencies were weak following a . The Tesla CEO posted a meme with the word and an emoji of a broken heart, suggesting that he has given up on the world’s largest cryptocurrency for now. Other cryptocurrencies followed suit with dropping around 5% and falling by around 10%.

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