The USD is a little stronger ahead of jobs
The US jobs report will be released at 8:30 AM ET/1330 GMT. All you need to know is in the summary HERE (Canada employment will also be released with net change in employment est at 6.0K vs 55.9K last month). Before the jobs numbers, the AUD is the strongest of the majors. The NZD is the weakest but the changes overall are relatively minor (the currencies are bunched together). Trade talks with China continue. PM May requested a delay until June 30th with caveats for the election. The focus is the employment after the surprise low NFP number last month (20K). PS ADP kept their number for last month high at 197K which makes you wonder if there is a revision in the cards?)
With the major pairs bunchned together, it sorta makes sense that the ranges are small and indeed they are. The largest range is the GBP at 67 pips. The rest of the ranges are in a 28-37 pips range. That is not a whole lot.
In other markets, the snapshot is showing:
- spot gold is trading down $4.48 or -.35% at $1287.83
- WTI crude oil futures are trading down $.12 or -0.19% at $61.90 cents
- Bitcoin on Coinbase is trading at $5007, up $159 on the day
In the pre-market for US stocks, the futures are implying modest gains.
- Dow, isu p 27 points
- S&P is up 3 points
- NASDAQ is up 8.5 points
In the European stock market:
- German Dax, unchanged
- France's CAC +0.27%
- UKs FTSE +0.16%
- Spain's Ibex, -0.36%
- Italy's FTSE MIB, +0.35%
In the US debt market, yields are up by about 2 bps.
In the European markets, yields are mostly higher. The German 10 year is up to 0.14% (reached a high of 0.019%).
It's all up to the jobs report now....
