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[GVI Forex 2]

ISM PMI is the next key data event

See our Economic Data Calendar

[SF Monedge]

I don’t think too much should be read into this job report considering the hurricane effect and Boeing strike.  I would not make the mistake of completely discounting it either.  No matter how you slice it there has to be at least a bit of risk off element especially this Friday.

[GVI Forex 2]

Nice when logic prevails as NFP was clearly distorted although it does give the Fed cover to cut ratess next week,
‘
EURUSD failed at 1.09+, support at1.0862 needs to hold to keep the focu away from the downside.

[GVI Forex 2]

Markets reacting to big downside miss in NFP…yields dip, dollar dips seems distorted but reaction is what matters.. see if EURUSD can hold above 1.09, if not then upside cools

[GVI Forex 2]

10-YEAR YIELD SNAPSHOTS

 

[Mtl JP]

NFP on deck today
—————–
U.S. 10 Year Treasury
4.291%
https://www.cnbc.com/quotes/US10Y

all I need …

[GVI Forex 2]

NEWSQUAWK US OPEN
‘
Equities firmer following strong AMZN/INTC results & DXY gains ahead of US NFP

Good morning USA traders, hope your day is off to a great start! Here are the top 4 things you need to know for today’s market.

Click below to read the full report and listen to the guys doing the podcast.

4 Things You Need to Know

European bourses are entirely in the green alongside modest strength in US futures following post-earning strength in Amazon/Intel & ultimately outmuscling losses in Apple.

Dollar is firmer, CHF sinks after the region’s inflation data and JPY pares recent strength.

Gilts continue to underperform with benchmarks generally softer pre-Payrolls.

Crude is lower as risk-premium returns into the weekend though participants have NFP to navigate first.

Try Newsquawk for 7 Days Free

[GVI Forex 2]

Although a month of storms may distort the numbers, a Reuters survey showed nonfarm payrolls probably increased by 113,000 jobs last month after rising by 254,000 in September and jobless rate is forecast to remain unchanged at 4.1%.

I have seen other NFP forecasts of 100,000

[GVI Forex 2]

A look at the day ahead in U.S. and global markets from Mike Dolan

With next week’s U.S. election now dominating thinking, the last two megacap earnings reports of the week appear to have calmed the stock market somewhat and a potentially noisy October payrolls report is up next.

Amazon and Apple got different market receptions to their updates overnight – the remaining two of five “Magnificent Seven” firms reporting this week.

Morning Bid: Amazon Calms the Horses, Payrolls Due

[GVI Forex 2]

EURGBP 1 HOUR – THE MORNING AFTER

GBP crosses recovering (EURGBP, GBPJPY) giving some support to GBPUSD.

EURGBP .8404 was a mini breakout level yesterday so back below it would be needed to shift the focus to .8360.

Downside would be contained if .8400-05 holds.

[GVI Forex 2]

10 YEAR BOND YIELD SNAPSHOTS

[GVI Forex 2]

EURUSD 1 HOUR CHART – WAITING FOR NFP

Market is biding its time waiting for the US jobs report,

A sharp price in EURGBP yesterday helped give EURUSD a bid and it has backed off today as the cross eased back.

1.09 should be tough on top, back below 10840-50 would be needed to shift the focus back to 1.08,

Oct NFP:

A weak jobs # is expected following a sharp rise in Sept BUT NFP will likely be distorted by the hurricanes and strikes,

[GVI Forex 2]

GBPUSD 1 MONTH – NEW MONTH, NEW BALL GAME?

GBP sold off yesterday on a plunge in the bond market (higher yields) and today it seems to be benefiting from the higher yields. So price action suggests month end flows may have been a factor in the ell off.

Whatever the case, it was a straight line move from 1.2999 to 1.2851.

For today 1.2880-85 needs to hold to keep the bid.

On the upside, no resistance other than the day high so treating the move up as a retracement, use FIBOS as possible levels

From our Fibonacci Calculator

[Mtl JP]

Yikes on the other hand
–
Couche-Tard, which from a single outlet in 1980 has become a $53bn company with 16,700 locations.

(psst: pays 1% divident. sofar)

[Mtl JP]

yikes II

japan stocks spooki-n-puking

[SF Monedge]

Yikes.

• Family Dollar has announced 677 store closings this year.

• Walgreens is closing 1,200 stores.

• Big Lots is closing 360.

• LL Flooring is shutting down entirely.

• Major retailers have announced 6,189 store closures so far this year, already outpacing last year’s total of 5,553, according to Coresight Research. Chains are on track to close the highest number of stores in 2024 than any year since 2020, when the Covid-19 pandemic decimated the industry.

[GVI Forex 2]

In our blog

Harris vs. Trump: My Prediction for the US Election

[GVI Forex 2]

USDJPY 4 HOUR CHART – Safe haven

JPY benefiting from some safe haven flows and from GBPJPY longs being unwoiund.

1.5144 = key support, below it puts 150 back on the table

Above 153 is needed to ease a downside risk

While within 151-153 look for 152 to set the tone

[GVI Forex 2]

XTIUSD 4 HOIUR CHART (WTI CFD)

Opening week gap filled

Rising red Amazing Trader line indicate a bottom but would need to take out 72.41-85 to suggest a reversal of trend.

[Belgrade Bobby]

Amazon – AMZN

Amazon.com beats estimates for quarterly revenue
Amazon.com  AMZN beat market estimates for quarterly revenue on Thursday, boosted by strong growth in its cloud services unit thanks to growing enterprise spend on AI.

Shares of the company were up 6% in extended trading.

Amazon Web Services, the company’s cloud business, reported a 19% increase in sales to $27.5 billion, in line with estimates, according to LSEG data.

[Author]

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