07:25am   I have just sent off my daily ‘Trading-Guidance’ email to subscribers and that’s it for the markets today for me as it’s Non Farm Payrolls day once again, so no chart watching now until Tuesday (I am away for 3-days Sat-Mon)

Market Update:

The Asian session was fairly mixed overnight but ultimately most indices ended slightly up ahead of today’s U.S. jobs number report. The Non Farm Payrolls is expected to show a rise in U.S. employment by around 195,000 and any figure above this will give the Federal Reserve extra ammunition for a June rate rise. U.S. equities ended Thursday’s session up as well with trader optimism high but continued bullishness will also depend on the price of oil — the benchmark WTI Crude is at a possible critical level this morning where it may fail to rise above the important $35 level and retreat back as talks to limit worldwide production are coming to nothing so far.

The value of Gold hit a 13-month high yesterday at $1268:20 as traders took money out of equities ahead of the Non Farm Payroll announcement but both the daily and weekly charts are overbought, so we may see some profit taking in the next few days.