What’s in Today’s Report:
- Key Levels To Watch in the Dollar Index and 10 Year Yield (Post Jobs Report)
- Jobs Report Preview (Abbreviated Version)
Futures are solidly higher again following another quiet night as momentum continues to push the market to fresh highs, ahead of the jobs report.
There was no new geopolitical news overnight and international focus has now turned to whether the Ukrainian flight was hit by an Iranian missile. That shift in focus is helping tensions to recede further.
Economic data was sparse as Japanese Household Spending missed estimates while Aussie Retail Sales beat expectations, but neither number is moving markets.
Today the key number is the Jobs Report, and expectations are as follows: Jobs 158K, UE Rate 3.5%, Wages 0.3%/3.1%. The key number is the wage data, but unless we see wages spike close to, or above 3.5% y/y, then the jobs report shouldn’t derail the rally.