We get the Manufacturing Production numbers coming out of the United Kingdom during the day on Friday, but most importantly we get the nonfarm payroll numbers. Because of this, it’s very likely that we will have a fairly quiet day until that announcement comes out at 1230 GMT.

DAX

The DAX had a back-and-forth session during the day on Thursday, but it looks as if we are trying to break out. A break above the €10,700 level would be very bullish and should send call buyers into the market. It also looks as if the €10,500 level might be a short-term supportive area.

USD/CAD

It looks as if the USD/CAD pair is trying to grind its way to the upside, although it’s very likely that the market will continue to find call buyers every time it pulls back, but at this point in time it’s very likely that the call buyers will have to be very patient and deal with extraordinarily choppy market. Once we get above the 1.33 level, the market should then be able to move a little quicker.

WTI Crude Oil

The WTI Crude Oil market rose a bit during the course of the day on Thursday, breaking above the $50 level. However, we are getting a bit overextended at this point in time, so the market might be a “bit too rich” for a lot of call buyers. Pullbacks will probably be necessary, and keep in mind that this market tends to be very volatile during the nonfarm announcement.