The snapshot now is not that much changed from the start of the session, as traders lack any real appetite in European morning trade. That isn’t surprising as we are awaiting the main event later today. It is all about the US jobs report with no other distractions so far on the session.
After the Fed has said put out the narrative that March isn’t the base case for rate cuts, it is now time to walk the talk. And the non-farm payrolls release today will be the first key hurdle in that sense. Here’s a preview: December non-farm payrolls by the numbers
As we await the data, the dollar is just marginally lower with losses more evident against the aussie only. But even so, it isn’t anything too substantial on the week. The other major currencies are little changed after the moves yesterday.
Elsewhere, Treasury yields are slightly higher but that picture could all change once again when we get to US trading later. In the equities space, the rally in tech shares is carrying over to today. S&P 500 futures are up 0.6% and Nasdaq futures up 1.0% on the day. Meanwhile, Dow futures are only seen up 0.1% but at least that helps with keeping a more positive risk mood for now.
This article was written by Justin Low at www.forexlive.com.
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