Good Friday means that most markets are closed. However, for part of today's session, contracts for US stock indexes were traded and showed a positive reaction to the NFP report. The US economy added 916K jobs in March, the most since August 2020, following an upwardly revised 468K in February. Today's reading came well above analysts estimates of 647K amid easing business restrictions, falling coronavirus infection rates, a fast vaccine rollout and continued support from the government. Moreover, the wage data showed lower than expected wage growth. The dollar was slightly appreciating today, which was related to the upbeat data. However, market volatility is very limited. Crude oil may come under pressure next week, although the market has welcomed information about an increase in production over the next three months. The US will meet Iran in Vienna next Tuesday to talk about a nuclear deal.
GBPUSD – buyers failed to break above major resistance at 1.3850 and price pulled back. If the current sentiment prevails then downward move may be extended to the 1.3760 handle which is additionally strengthened by 50 SMA ( green line) and upward trendline. However if buyers will manage to regain control and break above the aforementioned resistance, then another upward impulse may be launched towards 1.39 level. Source: xStation5
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