A volatile Friday on the market, started with Gold and Silver flash crash in the Asian session, the  GBP/USD movement in the London session and the busy New York market with many data releases.

US NFP came out way stronger than expected, 222k vs 179k, woth a prior reading revised up to 159k from 147k. The first market reaction anyway was USD selling. If you are wondering why, consider the weak inflation in the US and the fact that the US market is adding jobs, but the earnings are not picking up at the same speed. The average Hourly Earnings MoM was 0.2% vs 0.3% expected, with a prior reading revised down to 0.1% from 0.2%.

The USD Index stay mixed anyway for most of the trading session.

Positive CAD employment data suggest that the rate hike at the next meeting, BoC will most likely rise rates. USD/CAD came off a figure from the opening and tested new lows.

Oil extended its decline after the US rig counts were released, suggesting that the production cap put in place by OPEC and Non-OPEC members is being offset by an increase in the US production.