The S&P 500 and Nasdaq futures are marginally lower this morning and the EURSXX50 index is trading higher by 1.8% after the French government announced a stimulus plan to spur job creation and revive the French economy. The hopes of a covid-19 vaccine and the stimulus plan are sending EU markets sharply higher this morning, ahead of the US NFP numbers that are set to be released tomorrow morning. The NIKKEI index is trading at 2020 highs as well, after a strong 0.94% gain overnight. FX markets are awaiting the NFP numbers as well, the dollar index is stronger and trading at 93.02 this morning, up 0.32% while most other FX markets are trading a flat session, ahead of the NFP news tomorrow. Gold and Silver are both lower on dollar strength, Gold is trading at $1,931 per ounce, down 0.31% and Silver is lower by 1% and trading at $26.78 per ounce, both eager for a move on the NFP numbers tomorrow. Oil is lower by 2.2% this morning, losing ground on gasoline demand worries, that’s after an EIA report. The Energy Information Administration reported yesterday a bigger than expected demand drop of 7.8 million barrels per day and weaker demand for other Oil products as well. WTI is at $40.35 this morning, as investors look to OPEC+, expecting price supporting near term production decisions.
US ISM Non-Manufacturing PMI at 10:00 am is the important news on the agenda Thursday, (all times EST).
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Nasdaq futures are marginally lower from all-time highs this morning, ahead of the NFP job report tomorrow morning.
The 10 lot USD/JPY long trade looks stronger this morning as the dollar index advanced versus majors, up 30 pips from entry.
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