Dollar falling into the US employment report
As the North American traders enter for the day and the world awaits the US employment report released at 8:30 AM ET/1230 GMT, the AUD is the strongest currency, while the US is the weakest. The dollar is also making new lows in the major pairs as the traders enter.
The AUDUSD made the biggest move from the closing levels (up 36 pips. The GBPUSD and USDJPY are both within 8 pips of the closing level. The NZDUSD has moved to positive in the last hour of trading after being negative for most of the day.
In the other markets, a snapshot of the numbers are showing:
- spot gold is at $3.96 or 0.32% at $1211.59
- WTI crude oil futures are trading down $.28 or -0.41% at $68.67
In the US stock market, the stock futures are implying marginal gains
- The S&P is implying a 5-point gain
- The Nasdaq is implying a 18 point gain
- The Dow implying a 42 point gain
In the European stocks:
- German Dax is up 0.6%
- France's CAC is up 0.4%
- UK FTSE is up 0.9%
- Spain's Ibex is up 0.5%
The US yields are trading near closing levels from yesterday
A snapshot of the European 10 year yields shows yields are mostly lower:
The US employment report will be issued with:
- US unemployment rate expected to fall to 3.9% from 4.0%
- non farm payroll is expected to show a 193K increase versus 213K rise last month
- manufacturing employment is expected to increase by 25K versus 36K
- average hourly earnings are expected to rise by 0.3% versus 0.2% last month. YoY is expected to increase by 2.7% (same as last month)
- average weekly hours expected at 34.5 hours ( unchanged)
