Friday, 4 March 2016

Pre-Market Brief

Good morning. US equity futures are a little higher (ahead of the jobs data), sp +4pts, we're set to open at 1997. USD is u/c in the DXY 97.50s. Metals continue to climb, Gold +$4. Oil is +0.3% in the $34s.



Little to add... lets see how the market reacts to the next jobs data, due at 8.30am EST.

Update from Mr C.

Overnight action

Japan: +0.3% @ 17013
China: +0.5% @ 2874
Germany: currently +1.1% @ 9855

Have a good Friday

8.31am  Net jobs gains: 242k, headline jobless rate: 4.9%

sp' +6pts... 1999

Gold has reversed, now -$5, miners, GDX -1.8%

So.. jobs come in better than expected... and we've the sp' @ 2K in pre-market.

Now its a case of whether a weekly close >2000, and considering recent price action... that does look probable.

8.37am.. increasingly powerful reversal in gold/miners,  Gold -$12 , GDX -2.6%

9.02am... Another reversal.... sp -3pts... 1990 (from 2003)...

Gold +$5... from -12.

In the scheme of things though, its relatively moderate, and the econ-bulls can tout 'everything is reasonable'.

To be clear, sustained action <1970 looks out of range for another few weeks.