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S&P 500: Futures Calm Awaiting NFP, Dollar Still Hit

  • Markets calm ahead of key data.
  • The dollar remains weak and raw materials consolidate recent gains.
  • The US November employment report, known as NFP, is coming.

Wall Street futures are falling modestly as European stocks swing between gains and losses. There is a calm in the financial markets ahead of key US data. The dollar continues to slide and commodities hold on to the recent rise.

Slight drop, expectation in employment dice

In Europe the FTSE 100 falls 0.25%, while the DAX rises 0.25%. In weekly terms, with few exceptions, the main indices throughout the world are on track to close the week with gains. The S&P 500 closed Thursday down 0.09% and futures on Friday are losing 0.15%.. Those of the Dow Jones fall 0.15%, and those of the Nasdaq 0.24%.

Where all eyes are directed is the official employment report of USA. At 13:30 GMT the numbers that have great potential to move the market and influence the Federal Reserve’s monetary policy expectations will be released.

The market consensus is for a increase in non-farm payrolls of 200,000 and that the unemployment rate remains at 3.7%. The figure of 200,000 would be the lowest in two years, but could still have positive implications for the state of the economy.

In addition to the data, FOMC members Thomas Barkin and Charles Evans will speak publicly. In Canada The November employment report will also be published. Among the companies due to report results on Friday are Cracker Barrel and Canadian Western Bank.

mode is maintained

The dollar still weakened and raw Materials confirm recent gains. The expectation of a less aggressive Federal Reserve, following speeches by various central bank officials including Powell, remains the determining factor for commodities to continue to rise or hold on to recent gains and for the dollar to remain weak. The current pause in consolidation may find an end with the US jobs report.

The yen remains among the best performing currencies, with a high correlation to Treasury yields and not to equity markets. The USD/JPY it fell below 134.00, at new lows since mid-August.

Another of the currencies that stands out at the moment is the pound sterling, which not only advances against the dollar but also against the euro. EUR/GBP hit 0.8550, the lowest in three months.

Gold remains in the area of ​​maximums in months around $1800, while silver falls after having approached $23.00.

The cryptocurrencies they also retain some of the recent recovery. Bitcoin operates in the area of ​​$17,000, while ethereum just under $1,300.

The prices of Petroleum do not register significant variations. After hitting weekly highs on Thursday, they began a correction that extended into the recent European session. The WTI barrel remains in the $81.50 area.

technical levels

SP500

Overview
Today’s last price 4071.34
Today Daily Change -4.27
Today Daily Change % -0.10
Today daily open 4075.61
trends
Daily SMA20 3951.23
Daily SMA50 3812.52
Daily SMA100 3927.12
Daily SMA200 4037.82
levels
Previous Daily High 4099.11
Previous Daily Low 4049.51
Previous Weekly High 4042.3
Previous Weekly Low 3932.05
Previous Monthly High 4075.37
Previous Monthly Low 3697.23
Daily Fibonacci 38.2% 4068.46
Daily Fibonacci 61.8% 4080.16
Daily Pivot Point S1 4050.38
Daily Pivot Point S2 4025.14
Daily Pivot Point S3 4000.78
Daily Pivot Point R1 4099.98
Daily Pivot Point R2 4124.34
Daily Pivot Point R3 4149.58

Source: Fx Street

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