Spreadex Market Update
Oil dives while investors remain cautious ahead of nonfarm payrolls
European markets were lower Friday morning as falling oil prices weighed on investors.
The euro reached a 6 month high earlier as Macron tightened his grip on the French presidential race in the final day of campaigning. French prosecutors opened an investigation into rumours that claimed Macron owned a secret Cayman bank account.
Financial services, banks and insurance firms struggled as Goldman Sach’s CEO Lloyd Blankfein spoke to the BBC that Brexit and its implications were likely to hurt the city of London.
Non Farms figures will be announced at 1:30pm. Economists polled by Reuters expect the U.S. economy to have added 185,000 jobs last month versus 98,000 in March.
In oil markets, Brent crude traded at around $48.40 a barrel on Friday, prices struck a new 2017 low on Thursday as mixed U.S. stockpile data compounded the bearishness surrounding oil in recent weeks.
Stateside, Republican President Donald Trump secured a victory after the House of Representatives voted to repeal and replace major parts of Obamacare. The plans now head for a vote in the Senate.
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