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EURGBP TECHS

Breaches Support

GBPUSD TECHS

Remains Under Pressure

EURUSD TECHS

Bear Cycle Extension

US TSY OPTIONS

30Y Put

COMMODITIES

Oil Bounces, Eyes Iran Poll and Gulf Weather

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  • A solidly lower-than-expected Nonfarm payrolls release caused concern among markets that the assumed post-pandemic recovery may be lumpier and longer than expected. Equity futures initially sold off on the headline miss, before a fearsome rally set in, as concerns that the Federal Reserve could taper asset purchases and withdraw stimulus as soon as summer were rowed back, with markets seeing QE as here to stay.
  • The energy sector was an outperformer Friday, with materials and industrials not far behind. Consumer staples were the only sector in the red, edging lower by around 0.2%.
  • The post-payrolls rally put stock futures at new alltime highs, with the e-mini S&P topping out at 4232.25. Similar records were hit across the Dow Jones futures, although the equivalent high in the NASDAQ remains out of reach for now.