US and Canada jobs reports to be reported at the 8:30 AM ET

The JPY is the strongest currency and the CAD is the weakest currency as North American traders enter for the day. The US jobs report will be released at 8:30 AM ET with expectations for a change nonfarm payrolls to show a 674K increase (vs 266K last month). The unemployment rate is expected to dip to 5.9% from 6.1%. In Canada that change in employment is expected to decline by -25.0K after the huge decline of -207.1K last month (shutdown related). Full-time employment fell by -129.4K last month, while part-time employment fell by -77.8K. The unemployment rate is expected to move up to 8.2% from 8.1%

The forex market

Looking at the ranges and changes the traders are taking a "wait and see" approach as ranges are very modest vs the 22 day averages (about a month of trading). The high trading range is only 49 pips for the majors vs the USD. THe USDCHF and AUDUSD both only have a 20 pip trading range. Clearly traders are locked and loaded, but not showing a preference.

The ranges and changes for the major currency pairs

In other markets:

  • Spot gold is trading up $1.73 after yesterday's sharp declines. That is up 0.09% at $1872.60
  • Spot silver is trading down five cents per -0.21% $27.37
  • WTI crude oil futures are trading up $0.19 or 0.28% at $69
  • Bitcoin is trading down to thousand $385 or -6.16% at $36,324.80. That is near the session low of $36,250. The high price reached $39,291.24. Elon Musk implied via a tweet, that he was breaking up with Bitcoin. Oh my.

In the premarket for US stocks, the major indices (implied by the futures) are trading mixed (marginal changes). AMC shares are trading down -7.5% at $47.48. That's well off the high highs for the week which was upwards of $72 a share, but well above the lows as well. It certainly has been THE story for the week.

  • Dow industrial average +1 points points after yesterday's -23.34 point decline
  • NASDAQ index up 35 points after yesterday's 141.82 point decline
  • S&P index up six points points after yesterday's -15.27 point decline

In the European equity markets, the major indices are mixed as well.

  • German DAX, +0.1%
  • France's CAC, unchanged
  • UK's FTSE 100, -0.15%
  • Spain's Ibex, -0.6%
  • Italy's FTSE MIB +0.15%

In the US debt market, the yields are mixed with the short end up marginally, and the longer end down marginally:

US yields are mixed

In the European debt market, the benchmark 10 year yields are mix but little changed:

European yields are mixed