The dollar traded mostly sideways yesterday versus FX markets awaiting the important NFP numbers set to be released at 8:30 am EST. Investors are looking for any reason to find leadership in the FX markets that lacks direction since the Fed took any option for the dollar rate hikes in 2020 of the table. Global equity markets rally for the third day in a row this week following the ease in the Middle East US Iran tensions, as US and EU indexes are trading at record 2020 levels ahead of the start of earnings season next week. Gold and Silver closed lower yesterday as investors move from “safety”, Gold closed lower at $1,555 per ounce and Silver prices plummeted 1.2% to a $17.93 per ounce close. Oil prices stood firm following the big down day Wednesday, closing at $59.6 per barrel, marginally lower on the day as investors look at the US Iran tensions as the near-term driver for prices.
US NFP employment numbers and CAD Employment change at 1:30 pm are the important news on the agenda Friday. (all times GMT).
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Oil prices stabilize yesterday following the 5% drop on Wednesday, as Middle east tensions subsides.
Gold will be in focus for investors today following the release of NFP numbers and if tensions scale in the Middle East.
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