Yesterday we saw a range-bound market for the most part as investors gear up for the jobs reports due today with a big focus on NFP. Nasdaq edged lower, Dow closed the day out slightly higher, however, S&P outperformed the other indices as it rallied during the course of the day. The Dax remained ranging throughout the day, however, the FTSE performed well as it erased all of yesterdays losses to close the day out on 7135.
The commodity market was very active yesterday as Gold pushed higher making a daily high of $1780, Silver similarly made a daily high of $26.35 before closing the day out at $26.02 keep a close eye on gold and silver while the jobs figures are set to be released this afternoon. Brent rallied well during the course of the day to break over $76 for the first time since the pandemic.
The crypto market was ranging for the major part of the day, however, Bitcoin and Ethereum both broke lower during the Asian session.
The focus will be on the US Dollar today, there’s been a lot of USD strength that came back into the market post FOMC. This morning the US Dollar is the strongest of all the major currencies while the Pound is the weakest before the European Open.
2:30pm - Average Hourly Earnings m/m (USD)
- Non-Farm Employment Change (USD)
- Unemployment Rate (USD)