US indices continued their selloff as bond yields pushed higher, the Fed is still holding strong on focusing on job creation and vaccine rollouts to boost economic recovery. Inflation is still the major concern in the global economy at the moment with the likelihood of inflation hitting the 2% targets to be sooner than expected.
Focus will shift today to NFP’s coming out of the US at 3:30 (SAST).
With asset classes flashing red across the board yesterday Brent pushed and rallied well to close out the day at $67 after OPEC nations agreed for the most part to maintain their production cuts while they waited for global economies to recover. This could mostly come down to China’s manufacturing dropping substantially in the last month.
Gold broke down further closing out yesterday below 1700 with Silver following its lead closing out the day at 25.29.
3:30pm - Average Hourly Earnings m/m (USD)
3:30pm - Non-Farm Employment Change (USD)
3:30pm - Unemployment Rate (USD)
5:00pm - Ivey PMI (CAD)