09:15am  ~  The markets will be dominated today by U.S. employment figures out at lunchtime (UK time) but yesterday, after record rises in the Dow Jones Index, traders have decided that the good news regarding the U.S. GDP figures will actually be bad as the Fed’s money-printing exercise may come to an end sooner than originally envisioned. Thi sresulted in quite a drop of both the DJ30 and the S&P500 and once again helped me get over 100 pips out of the market last night during just one evening trade. Obviously, if the Non Farm Payrolls numbers come in ahead of expectations, the market will again take that as bad news so we may see further falls this afternoon as the U.S. trading session gets under way. A surprise move yesterday by the ECB in cutting their benchmark lending rate meant the value of the dollar soared making it more expensive for traders to buy oil in currencies other than the dollar and this showed in the value of WTI falling once again, now down to $94.

As usual on a day when we have the Non Farm Payrolls announcement I will not be doing any trading, instead I am out on a clay-pigeon shoot this morning followed by a relaxing afternoon here at home catching up on some recent Kindle purchases.