Vol rising, NFP looming and equities sharply down – More to come?

Frank Walbaum FX Strategies.Asia

Important news for the day:

Fri, 02nd, 14:30 CET US Nonfarm Payrolls.
Fri, 02nd, 14:30 CET US Average hourly earnings.

Prisoner exchange

Yesterday an exchange of prisoners between Russia and the Western world has happened. Convicted Westerners which also include a Wall Street reporter had been brought to Turkiye, where they went further towards Europe. In exchange also a Russian spy, convicted in Germany for 25 years due to the political killing in Berlin had been sent to Russia. He was then welcomed by President Putin. The deal involved several countries and US President Biden stated that it took long for it to come into place.

Market talk

Markets are gearing up for further volatile moves today. The Nonfarm payrolls report might shake up markets further. Volatility has been rising and after stocks initially started another attempt to higher prices during US trading yesterday. Moves had turned around and currently another move in risk- off sentiment can be seen. The negative momentum might continue at least during the first trading days of the month. With the stronger Dollar also oil prices have corrected but look like they might resume their upside again.

Tendencies in the markets

Equities correcting, USD stronger, BTC weak, oil positive, Gold positive, Silver positive, 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.

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