Stocks are volatile this morning, as the initial pop from this morning's outstanding jobs report wears off.

Delta Air Lines expands its global reach through new partnerships with Saudi airlines while its stock shows strong gains, outperforming the broader market in recent periods.

The BLS reports payroll employment rises by 254,000 in September. I discuss two reasons the report is suspect.

USD/CAD rises sharply to near 1.3600 after stronger-than-expected US labor market report. A robust pace in the US job growth data has forced traders to pare Fed’s 50 bps rate cut expectations. Higher Oil prices have strengthened the Canadian Dollar.

ADP employment change Wednesday came in above expectations, and last month it was manufacturing with -24K that was the drag on hiring, cancelled out by the same volume of government hiring.

We are now trading within MinorGroup2 of 300$, specifically around 372$ and 380$. Looking for further upside within wave 5 towards the next TradingLevel at 500$.

The US jobs report was incredibly strong on every front possible – job creation, unemployment, wages and hours worked. Nonetheless, caution lingers given the lack of corroborating data.

The euro fell to a three-week low as weak Eurozone data and inflation below the ECB’s 2% target increased expectations of a rate cut. Markets believe there is a 95% chance of a 25bp rate cut this month.

It seems that Powell is enjoying a “heads, I win, tails, you lose” market. One would think that a very strong jobs report, with upward revisions to past data, would splash all kinds of cold water on Powell’s plans.

For this month at least, the verdict was clear: both the Establishment and Household Surveys pointed to “soft landing.”

USD/JPY breaks above a critical level and extends its bullish advance. Bullish momentum could signal an extension. Alternatively it may have completed a three-wave correction which could eventually roll over.

If the above proposed NTPC Elliott Wave counts hold, the stock should stay below 448 and continue lower towards 386 in the near term.

Let’s take a closer look at how the company currently stacks up.

Oil prices could rise by $20 per barrel if Iran’s oil production drops due to Israeli retaliation. OPEC+ intervention could mitigate the surge, limiting the price increase to $10 per barrel.

Crude Oil is set to lock in over 8% of gains for this week on supply concerns amid the escalating conflict in the Middle East. The Biden administration and Israel discuss possible strikes on Iranian Oil fields.

The FTSE 100 Elliott Wave Analysis for the daily chart reflects a bullish trend, with Gray Wave 3 and Orange Wave 5 in progress.

XRP price extended losses and tested the $0.5080 support level. The price is now consolidating and might aim for a recovery toward the $0.580 resistance.

The USDCHF Elliott Wave Analysis for the daily chart indicates that the market is in a corrective phase, with orange wave C of navy blue wave 2 progressing.

AUD/JPY weakens to near 100.00 in Friday’s early Asian session, down 0.50% on the day. The cross keeps the bullish vibe above the key 100-period EMA, but RSI indicator shows neutral momentum.

Kiwi Is Slowing Down For A Correction within uptrend from technical point of view and from Elliott wave perspective.