• Markets are generally subdued this morning ahead of US Non Farm Payrolls at 13.30. Expectations have been diminished factoring in the extreme January weather, but coming on the back of a poor reading last months, traders will be looking for some good news.
• There was certainly a bullish bias yesterday as the S&P rose quickly to reverse most of Monday’s plunge. The dollar index is little changed though ahead of NFP.
• The British pound is performing well so far after research from KPMG indicated a surge in UK vacancies.
• Commodities are mixed though with silver and gold heading in opposite directions.
Coming up today:
• The big ticket is of course US Non farm payrolls, released at 13.30 with a +185k reading expected. Alongside this we have unemployment claims and Canadian employment data.
• Before this we have some important UK data with UK manufacturing production at 09.30, with UK trade balance released at the same time.
• German industrial production follows at 11.00.
• UK NIESR GDP estimate is released at 15.00, with a 0.7% gain on the cards.
Trade Idea:
• The USD/CAD has been stuck in a tight range for most of the week, but with both nations releasing important payrolls data today, we’re likely to see movement.
Were January Payrolls a Blip?
Morning Report: 08.45 London
• Markets are generally subdued this morning ahead of US Non Farm Payrolls at 13.30. Expectations have been diminished factoring in the extreme January weather, but coming on the back of a poor reading last months, traders will be looking for some good news.
• There was certainly a bullish bias yesterday as the S&P rose quickly to reverse most of Monday’s plunge. The dollar index is little changed though ahead of NFP.
• The British pound is performing well so far after research from KPMG indicated a surge in UK vacancies.
• Commodities are mixed though with silver and gold heading in opposite directions.
Coming up today:
• The big ticket is of course US Non farm payrolls, released at 13.30 with a +185k reading expected. Alongside this we have unemployment claims and Canadian employment data.
• Before this we have some important UK data with UK manufacturing production at 09.30, with UK trade balance released at the same time.
• German industrial production follows at 11.00.
• UK NIESR GDP estimate is released at 15.00, with a 0.7% gain on the cards.
Trade Idea:
• The USD/CAD has been stuck in a tight range for most of the week, but with both nations releasing important payrolls data today, we’re likely to see movement.
An IN/OUT trade predicting that the USD/CAD will touch either 1.1200 or 1.0925 in 3 days time could return 126%.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Summary:
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