During the day on Friday, we get the Nonfarm Payroll numbers coming out of the United States, and quite frankly most other announcements will be ignored due to the importance of the jobs number. This will give us an idea as to whether the Federal Reserve can raise interest rates in December, and with that we look at the following 3 assets:
WTI Crude Oil
The WTI Crude Oil market initially rallied on Thursday, but turned around to form a shooting star. If we get a poor jobs number, it’s likely that the oil markets could struggle due to the fact that it would only signify even further lack of demand. Either way, it looks as if the put buyers are in control the moment.
Gold
Gold markets of been very volatile during the day on Thursday, perhaps in preparation for the vital jobs number. The $1300 level looks to be the beginning of significant resistance, so it appears of the call buyers are in control. However, if we get a strong move upwards in the US dollar, that could send the put buyers into the forefront.
EUR/USD
The Euro initially tried to rally on Thursday but turned around to form a fairly negative candle. It looks as if the area just above the 1.11 level is massively resistive, so a strong jobs number will more than likely send the put buyers back into this marketplace, especially if we can get below the 1.1050 level.
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