Markets:
- Gold up $26 to $4003
- WTI crude oil up 35-cents to $59.78
- US 10-year yields flat at 4.09%
- S&P 500 up 0.1%
- Bitcoin up 2.4% to $103,557
- CAD leads, JPY lags
A second consecutive non-farm payrolls report was cancelled on Friday as the federal government shutdown continues however there may be some hope for progress on the weekend as lawmakers assembly in Washington and float some proposals. There’s nonetheless loads of digging in and bluster however a minimum of there appears to be motion with meals stamps and a few flights being cancelled.
The temper early within the day was poor and inventory markets offered off exhausting, with the underside coming at midday ET as Europe went dwelling. Tech led the hunch with the Nasdaq falling as a lot as 2%. From there, the dip consumers began to weigh in nevertheless it wasn’t till late within the day that sturdy shopping for kicked in and introduced the S&P 500 into slight optimistic territory and left the Nasdaq with simply at 0.2% loss. It was nonetheless a troublesome week for the NQ, down 3% however not almost as dangerous because it as a number of hours in the past.
In FX, the US greenback hit the lows of the day after a gentle UMich survey and a few dovish inflation numbers within the NY Fed survey. That noticed December minimize odds tick up and lifted the euro as excessive as 1.1591.
The massive winner on the day was the loonie on a second consecutive very sturdy jobs report. The kneejerk took USD/CAD all the way down to 1.4060 from 1.4110 after which the flip in threat urge for food dragged the pair all the way down to 1.4030.
Gold briefly jumped on what nearly seemed like a fats finger because it climbed $35 shortly. It promptly gave all of it again although and is winding down the week proper on the $4000 degree, which is correct the place it began.
