Market update Friday 05
One hour before the US market opening, here is the market overview:
After a rise this morning, EURUSD sold off in the late morning. The pair is especially expected to react, even shortly, at the NFP release (70 Pips move expected if deviation is about 70K-50K. We must remain cautious about any news from Greece that may affect the price’s direction.
Because of rumors and fear about the OPEC, the pair rose yesterday and this morning. Now likely to drop few Pips before the US market opening, the USDCAD pair will be a tough nut to crack today due to many factors: NFP, CAD employment Change, and OPEC meetings. Be extremely cautious.
There was a sharp drop this morning. The pair is expected to move strongly at the NFP release if the deviation allows it. Maybe our favorite pair to trade in the NFP’s deviation is good, for the UK is not as affected by Greek Government as the euro zone is.
There will be a market update after the news release (2.30pm-3.00pm Paris time).