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Market Recap – NFP day

Friday, February 7, 2020 11:12 AM GMT

Today is the 40th day since the killing of General Qassem Soleimani. Since the start of the year, there have been no new episodes of the US-Iranian relations. Market participants  have digested the rise of the geopolitical risk, and are prone to a negative surprise in the coming days. The US announced the killing of al-Qaeda leader Qassim al-Rimi in Yemen.

On Saturday, the Irish are heading to the polls to choose their next President and the Swiss are having a public vote on sexual orientation discrimination, triggered by the parties that were against the legislation.

Meanwhile, OPEC+ cannot reach a decision at its emergency meeting. 

Macro releases:  Yesterday’s decreased US Unit Labor costs, the reading that triggered the February 2018 sell off, proves that there is zero inflationary pressure at the moment. German and French industrial production decreased, the Japanese household spending decreased. Today’s economic calendar includes the US Non-Farm Employment Change (NFPs), the Canadian employment change, the Chinese Trade balance and Chinese foreign currency reserves.

CopyTrade at ZuluTrade

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The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.

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