NFP in focus today

Frank Walbaum FX Strategies.Asia

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

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.

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