S&P 500: Calm, awaiting US employment data.

• Markets unchanged, on the sidelines awaiting employment data.
• The dollar falls slightly from highs in years.
• Metals recover from lows in months.

Wall Street futures trade slightly lower and steady ahead of key US labor market data. The dollar loses strength, but remains in the area of ​​maximums in years. Metals and oil are recovered.

Europe in green, Wall Street waiting

Equity markets in Europe are rising on Friday, while Wall Street futures are in negative territory: those of the S&P 500 fall 0.15%those of the Nasdaq 0.30% and those of the Dow Jones lost 0.13%.

Volatility remains low, with traders on the sidelines awaiting major economic numbers. The key on Friday will go through the US employment report for August. The consensus is for an increase in jobs of 300,000. The latest US economic data has been better than expected, favoring expectations of a 75 basis point hike at the September FOMC meeting.

The employment numbers it is estimated that they will have a great impact on all the prices of financial assets. The dollar reaches these numbers with a slight decline on Friday, but in the area of ​​highs in several years against currencies such as the yen, the pound and the euro. DXY falls after hitting the highest since 2002.

The pound remains among the weakest currencies. GBP/USD is trading flat at 1.1550, and EUR/GBP resumed gains towards 0.8650. The outlook in the UK remains complex for the pound with expectations of a long recession, a jump in energy prices and in between, the succession of Boris Johnson.

The bond yields they look stable on Friday, in the NFP preview. The 10-year bond hit a monthly high of 3.29% and the 2-year rate hit 3.54%, the highest since 2007. More hikes would fuel the dollar’s rally.

The metals they are rising, recovering from several bearish days. Gold is back above $1700, while silver is close to $18.00. Cryptocurrencies are stable, with Bitcoin in the $20,000 zone and Ethereum at $1,580.

The oil prices rise on Friday more than 1.5%. The price of a barrel of WTI found support again in the low zone of August and is experiencing a recovery. Still, it is headed for a weekly loss, affected by the economic outlook and new COVID restrictions in China.

According to the specialized press, the G7 countries are close to reducing the price of purchases of russian oilin order to shorten Russia’s profits from crude oil exports.

Technical levels