07:45am  I was planning to be at home today doing some chart watching but I am now helping a friend move his car collection for most of the day – back trading the markets tomorrow.

Market Update:

Following encouraging U.S. jobs data the Dow Jones 30 and S&P 500 both finished up on Friday despite falling Crude Oil prices. The Non Farm Payrolls numbers that were released Friday lunchtime (European time) showed that there was an increase of 215,000 jobs in March which came in ahead of the expected 205k with construction, healthcare and retail positions leading the increase and manufacturing jobs declining.

This optimism has not transferred across to the over night Asian trading session today where traders seem more concerned about the fall oil prices instead and European indices are also set to open slightly down in short while.  The U.S. WTI Crude price hit its 200-day moving average a few weeks ago and reversed downwards and has not really recovered since and disagreements over production levels are still causing investor worries so more falls look inevitable.

With bullish equity markets it is understandable to see the price of Gold coming under pressure, this safe-haven commodity fell $27 at one stage on Friday before recovering and bouncing once again off its 50-day moving average. Today’s movement so far is looking slightly bearish once again and the price is currently sitting at $1217.48 down on Friday’s close of $1222.11