Payrolls Imminent | Morning Express 08/5/2022
Posted: Aug. 4, 2022, 8:50 a.m.
Nonfarm Payroll is due at 7:30 am CT. Expectations are for 250,000 jobs created in July with wage growth increasing +0.3% MoM an 4.9% YoY. The Unemployment Rate is expected to remain steady at 3.6%.
There is currently a 60.5% probability the Federal Reserve hikes by 50 basis points in September. The remaining 39.5% is for a 75 basis point hike. Through yearend, there is an 86% probability the Fed hikes at least 100 basis points and 40.8% for at least 125 basis points worth of hikes.
Do not miss yesterday's Midday Market minute with a preview of today's Nonfarm Payrolls.
Sept 10-yr futures, per Midday Market Minute discussion
U.S. 10-yr yield, per Midday Market Minute discussion
E-mini S&P (September) / NQ (September)
S&P, yesterday’s close: Settled at 4152.25, down 4.00
NQ, yesterday’s close: Settled at 13,327.00, up 55.00
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
NQ (September)
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Crude Oil (September)
Yesterday’s close: Settled at 88.54, down 2.12
- 200-day moving average comes in at 88.81
- 88.43 is the front month contract .618 from March spike high to November low.
- Momentum indicator is slopping lower at 89.05, must move above for short-term momentum shift. Has not been above it since ahead of EIA data Wednesday.
- Our Bias will become Neutral for the moment upon a weekly close at the current level.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Gold (December) / Silver (September)
Gold, yesterday’s close: Settled at 1806.9, up 30.5
Silver, yesterday’s close: Settled at 20.122, up 0.228
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Crude Oil (September)
Yesterday’s close: Settled at 88.54, down 2.12
- 200-day moving average comes in at 88.81
- 88.43 is the front month contract .618 from March spike high to November low.
- Momentum indicator is slopping lower at 89.05, must move above for short-term momentum shift. Has not been above it since ahead of EIA data Wednesday.
- Our Bias will become Neutral for the moment upon a weekly close at the current level.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Sign up for a Free Trial
Don't have an account with Blue Line Futures?
Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Like this post? Share it below:
Back to Insights
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Free Trial