NFP in focus today

Frank Walbaum

Important News for the day

Fri, 06th, 14:30 CET US Nonfarm Payrolls.
Fri, 06th, 14:30 CET CA Unemployment rate.

Nonfarm Payrolls

The Dollar is heading with negative sentiment into the NFP- news today. A further slide in the Greenback might be expected, should the figure be weaker than expected. The recent month showed a 12k increase in new jobs and the expectation with 218k newly created jobs seems quite high. The EUR and GBP have both showed strong positive momentum and recent support levels in both currency pairs might hold throughout the weekend, which highly depends on the NFP data.

Market talk

General market sentiment seems rather sideways without major momentum for now. Yet, the equity market seems to favour a potential retracement to lower levels. Bitcoin keeps heading lower and also XRP is losing steam, while Solana might be ready to break the current technical resistance pattern. Also Silver is looking positive. The market is about to break the current technical resistance zone based on the daily chart. The 50- MA has been broken already to the upside. Vice versa oil prices look weak. The market might be ready to head lower based on long- term charts.

Tendencies in the markets

Equities sideways, USD weaker, cryptos correcting, oil weak, Silver positive, Gold sideways, JPY weaker.

Author

Frank Walbaum

AUD/USD flirts with 0.7000, lowest since early August amid bullish USD

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USD/JPY pulls back from three-week high after failing near 159.00

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Gold extends the range play below $4,300 as Fed hike bets counter modest USD pullback

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The Dollar is winning, but markets may be losing

The dollar is strengthening, Treasury yields are approaching levels not seen in almost two decades, and oil prices are again adding to inflation concerns. For currency traders, these developments appear to offer a relatively straightforward conclusion: higher US interest rates should support the dollar. But the broader market picture is considerably more complicated.

BoJ Recap: Not as hawkish as expected

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