US futures and EU markets are trading higher ahead of the most important US NFP numbers today at 8:30 am on coronavirus vaccines improved sentiment, following potential developments from biotech companies Pfizer and BioNTech. EU markets are trading higher, the EURSXX50 is up by 1.87% and US futures are up 0.75% for the S&P500 and 0.6% for the Nasdaq, at fresh all-time highs. The expectations are for improvement in the unemployment rate and for 3.03 million jobs added to the economy. FX markets are trading marginally lower for the dollar ahead of the news, at 96.99 this morning, down 0.15%. The Euro is stronger this morning, up versus majors and trading at the 1.1275 level versus the dollar. Gold is another focus area for investors, in case the jobs reports disappoints, trading at 8-year highs $1,781 per ounce, flat on the day while Silver is at $18.18, down 0.2%. Oil continues its positive move following yesterdays sharp drop in US stockpiles, trading above the $40 per barrel level this morning, up another 0.75%. An improved NFP employment number will support prices as investors fear the contamination spike in California will revive lockdown fears and temper with demand pickup.
US NFP Employment Change at 8:30 am and US Factory orders at 10:00 am are the important news on the agenda Thursday, (all times EST).
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The EURSXX50 and the DAX are positive this morning attempting a move higher from a 3-week consolidation pattern on the daily chart and considerably lagging the Nasdaq heavy tech index, trading at all-time highs again this morning.
Nasdaq futures are again at all-time highs this morning, backed by strength in tech leaders such as Amazon, Tesla and Square, all trading at all-time highs.
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