Following the release of US NFP today, our main focus will be on two markets: equities and rates. This can be further refined to whether the S&P500 continues to consolidate above daily cloud support on a closing basis at 1299 and whether the rally in rates markets continues. Overstretched CHF signs hint at a benign outcome this afternoon and into next week and that is certainly our bias as we expect further range trading over the summer months (EUR/CHF rebound to 1.25).
BARCLAYS CAPITAL
TECHNICAL RESEARCH