The EUR is the strongest and the JPY is the weakest as the NA session gets underway

[forex4you]

The EUR is the strongest and the JPY is the weakest as the NA session gets underway

<p>The EUR is the strongest and the JPY is the weakest as the North American session gets underway. The markets overall are little changed in the US ahead of their key August jobs report that will be released at 8:30 AM ET (note Canada will not release their jobs report this week but will do so next Friday). The expectations are for a gain of 300K. Last month the number surprised with a 528K increase. The Unemployment rate is expected at 3.5% unchanged from last month. Earnings will also be eyed and they are expected to increase by 0.4% and 5.2% YoY.  </p><p>Good news is bad news for the market (and visa versa) as expectations for Fed policy hinges on data (as per the Fed at least). A stronger than expected number would likely lead to higher interest rates, lower stocks and a higher dollar.  A weaker than expected number would likely to lower interest rates higher stocks and a lower dollar. The tilt is for a 75 basis point rise in September.  </p><p>Overnight China extended Covid concerns in the tech hub city of Shehnzen.  Earlier this week China put Chengdu, and its 21 million people under lockdown on Thursday. However, factories including plants run by auto giants Toyota and Volkswagen kept production running under self-contained "closed-loop" operations.</p><p>IN other markets:</p><ul class="text-align-start vertical-align-baseline"><li class="vertical-align-baseline">Spot gold is trading up $8.93 or 0.53% $1705</li><li class="vertical-align-baseline">Spot silver is trading up $0.13 or 0.73% at $17.89</li><li class="vertical-align-baseline">Crude oil is trading up $1.61 and $88.23</li><li class="vertical-align-baseline">Bitcoin is trading just above the 20,000 level at $20,041. The low price reached $19,957</li></ul><p class="text-align-start vertical-align-baseline">In the premarket for US stocks, the major indices are trading little changed ahead of the jobs report. The NASDAQ is on a 5 day losing streak. The S&P and Dow snapped a 4 day losing streak yesterday</p><ul class="text-align-start vertical-align-baseline"><li class="vertical-align-baseline">Dow industrial average unchanged after yesterdays 145.99 point rise</li><li class="vertical-align-baseline">S&P index is down unchanged after yesterdays 11.87 point rise</li><li class="vertical-align-baseline">NASDAQ index is down 10 points after yesterdays minus 31.08.4</li></ul><p>In the European equity markets, the major <a href="https://www.forexlive.com/terms/i/indices/" rel="follow" target="_blank" debug="" class="term__term-title">indices</a> are also lower</p><ul class="text-align-start vertical-align-baseline"><li class="vertical-align-baseline">German DAX +0.34%</li><li class="vertical-align-baseline">France's CAC +0.55%</li><li class="vertical-align-baseline">UK's FTSE 100 +0.72%</li><li class="vertical-align-baseline">Spain's Ibex +0.13%</li><li class="vertical-align-baseline">Italy's FTSE MIB +0.87%</li></ul><p class="text-align-start vertical-align-baseline">Looking at the US debt market, yields are mixed/little changed:</p><ul class="text-align-start vertical-align-baseline"><li class="vertical-align-baseline">2 year yield 3.4%, -3.0 basis point</li><li class="vertical-align-baseline">5 year yield 3.38%, -2.2 basis points</li><li class="vertical-align-baseline">10 year yields 3.252%, -0.5 basis point</li><li class="vertical-align-baseline">30 year yield 3.37%, +0.6 basis points</li></ul><p class="text-align-start vertical-align-baseline">Looking at the European debt market, the benchmark 10 year yields are higher mostly higher:</p>

This article was written by Greg Michalowski at www.forexlive.com.

Source: The EUR is the strongest and the JPY is the weakest as the NA session gets underway

forexlive.com