08:25am   No trading for me today as it’s the U.S. monthly jobs announcement and I traditionally do not worry about any chart watching on this day – back in front of my screens next Tuesday.

Market Update:

News and movements in the markets is still dominated by the U.S. elections at the moment although there is a slight distraction in a few hours when the Non Farm Payrolls numbers are released by the U.S. Bureau Of Labor Statistics – even a slight rise in monthly employment will signal to traders that the Federal Reserve will more than likely raise interest rates at their December meeting.

The bigger story however is the out come of the U.S. elections next Tuesday/Wednesday and markets are becoming more bearish as time goes on with many investors looking for some temporary safe haven for their money for the next week or so. As I have mentioned before, Gold has enjoyed a good run-up over the last month or so from a low of $1240 to its current level of around $1300 which is proving to be a small resistance area although as we get closer to the election result this commodity will probably rise above that level a few times.

The overnight Asian markets ended mainly down with the Japanese Nikkei-225 index leading the losses at -1.34% and the European session is opening in the same way with all major indices registering losses in the first hour of trading.