US benchmarks at record highs ahead of NFP report.

05/02/2021

US indices pushed to new all-time highs today (DOW excluding), and it looks like Friday will be another strong day for equities. 

COVID-19 cases are now declining in some regions, such as the UK and the US, and with the vaccination programs rolling, the pandemic might be over this year. Hopefully. 

Later in the day, the US employment update is due. The NFP number is expected to improve from -140,000 to +50,000, but some economists expect an even more upbeat number as this week's ADP release beat expectations. 

The unemployment rate is forecast to stay at 6.7%, while yearly wage growth should stay unchanged at 5.1%.

Canadian labor market data will also be released. Thus the USDCAD pair might be the most volatile from the majors. 

In the FX, the greenback eased a bit after its multi-day rally, but the EURUSD pair is still trading below 1.20, and USDJPY settled comfortably above 105.
Cookie Policy: The Axiory website uses cookies and by continuing using the website you consent to this. Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please read the full Privacy Policy.