NFP Number Will Drive Markets

NFP Number Will Drive Markets

2020-08-07 • Updated

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Ichimoku Kinko Hyo

CAD/JPY: The pair is trading in a bearish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.

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Fibonacci Levels

XAG/USD: Silver is trading a bit below 23.6% retracement area. Silver remains very bullish.

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US Market View

US stocks are set to open lower Friday, with investors worry over rising tensions between the US and China, deadlock over the next virus relief bill and possible disappointments from the key monthly employment report.

US Key Point

  • Dollar firms ahead of NFP report.
  • Germany proposes to bring forward stimulus spending of €26 billion to boost economy.

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