• This morning, markets are calm ahead of this afternoon’s US Non Farm Payrolls. The S&P 500 achieved its target of retrieving the 10 period moving average and seems content to sit until receiving further instructions.
• The yen pairs are the bigger movers as money flows back into the yen, primarily due to a lack of dollar interest rather than Japanese strength. The biggest mover is the AUD/JPY due to soft retail sales data and poor Chinese PPI data.
• Elsewhere, the euro is off the lows, but not by much.
Coming up today: • Coming up today we have UK manufacturing production at 09.30 with trade balance released at the same time. UK GDP estimates follow at 13.30.
• US Non Farm Payrolls are the big ticket, with a gain of +241k on the cards and the unemployment rate expected to drop to drop to 5.7%.
• Canadian employment data is released at the same time. Trade Idea:
• The Canadian dollar has been weakened by low oil prices in recent weeks, with the USD/CAD now at its highest level since May 2009. There could be further upside from here regardless of payroll data as oil prices remain at depressed levels.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
Markets Calm Before NFP
Morning Report: 9.00 London
• This morning, markets are calm ahead of this afternoon’s US Non Farm Payrolls. The S&P 500 achieved its target of retrieving the 10 period moving average and seems content to sit until receiving further instructions.
• The yen pairs are the bigger movers as money flows back into the yen, primarily due to a lack of dollar interest rather than Japanese strength. The biggest mover is the AUD/JPY due to soft retail sales data and poor Chinese PPI data.
• Elsewhere, the euro is off the lows, but not by much.
Coming up today:
• Coming up today we have UK manufacturing production at 09.30 with trade balance released at the same time. UK GDP estimates follow at 13.30.
• US Non Farm Payrolls are the big ticket, with a gain of +241k on the cards and the unemployment rate expected to drop to drop to 5.7%.
• Canadian employment data is released at the same time.
Trade Idea:
• The Canadian dollar has been weakened by low oil prices in recent weeks, with the USD/CAD now at its highest level since May 2009. There could be further upside from here regardless of payroll data as oil prices remain at depressed levels.
A good way to play this is a HIGHER trade predicting that the USD/CAD will close ABOVE 1.1900 in 5 days time for a potential return of 197%.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
Summary:
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