Today is the Nonfarm Payroll Friday, and this of course takes all attention away from most other announcements. We do get the PMI numbers coming out of Canada, but beyond that this market will focus on employment in the United States more than anything else.
USD/CAD
With employment figures coming out of both Ottawa and Washington DC, it’s likely that the USD/CAD pair will be front and center. It looks currently that every time we pull back, the call buyers get involved. This is especially true considering that oil markets have been saw.
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USD/CHF
The US dollar continues to bounce around against the Swiss franc, with the 0.99 level attracting call buyers, while the 0.9960 level attracts put buyers. Consolidation could very well continue during the day unless we get some type of shock announcement with employment.
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WTI Crude Oil
The WTI Crude Oil market continues to look soft, and now that we have broken below the $47 level, the buyers seem to be firmly in control. Rally should attract more but buying.
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