The FX Files – Looking for Positive Surprises for Both NFP, LFS

FICC Strategy Reports

The twin jobs number in Canada and US will be the big focus today, though the market may lose patience over uncertainty around the Strait of Hormuz. At current time the Strait remains only partially open, with Iran and Oman in its final stages of a deal, according to Iranian media. However this deal will likely prohibit US and Israeli ships from passing through without paying some sort of concession, and the US naval blockade remains in place. Trump claims that the war will end ‘pretty soon, though has not commented on the Iran/Oman proposal. Oil is steady with WTI at $77.97, up 0.88% OTD.

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