It’s jobs Friday in the US and Canada
This is going to be an interesting day.
USD/CAD will be especially volatile at the bottom of the hour with the Canadian report also coming up. The net change is expected to be +390K following the 952K rise in June. Unemployment is forecast at 11.1%.
The calendar is light after the data but the focus will move to US stimulus negotiations. It’s a major longshot to get a deal before the weekend.
In terms of price action, the rally to $ 29.85 in silver followed by a drop down to $ 28.18 last is a sign that big reversal, or round of profit taking could be at hand in precious metals; but it’s going to need a nudge from the dollar or some risk aversion.