It's NFP day
Important News for this day
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04th, 14:30 CET CA Unemployment rate.
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04th, 14:30 CET US Nonfarm payrolls.
NFP day
Today, traders will focus on the release of the NFP report from the US. Since markets remain in disguise this reading might offer more clarity for potential further momentum. Any weaker reading might cause equities to move lower. The expected addition of new jobs sits at 137.000 for the month. The past two releases have been a disappointment, though. With most markets having continued their slide the focus might also continue to be on potential adjustments on US policies.
Market talk
The Dollar remains mixed and continues to lose some steam. Yet the Dollar is gearing up steam against the AUD in particular. The current weakness of the Aussi might indicate that stock markets continue to weaken further. The NFP report might hence offer claritiy as mentioned above. Worth noting that also oil prices moved to the downside. The recent break below the USD 67.00 support zone might show an increase in downside pressure showing weaker demand from the economy.
Tendencies in the markets
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Equities weak, USD weak, cryptos weak, oil lower, Silver down, Gold correcting, JPY stronger.
Author
Frank Walbaum
FX Strategies.Asia
Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.
