sp'60min
USD, weekly
Summary
Yesterday sure saw a powerful reversal... and action <1872 looks unlikely for at least a few weeks.
Today will likely see a lot of chop.. as the market enters a holding pattern ahead of the next jobs data.
Even if I knew the number, what will really matter is how the market interprets the data. A good jobs number will again bring up the threat of a rate hike later this year - something many clearly do not want.
Yet.. a bad jobs number <100k, would merely warn there is serious threat of a US recession.
Would bad news be seen as such?
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Overnight action
Japan: -0.8% @ 17044
China: +1.5% @ 2781
Germany: currently +0.1% @ 9445
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Have a good Thursday
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8.14am.. sp -12pts... 1900. Market mood is being impacted by Oil, now -2.2%.