It's Friday...That means Baker Hughes rig count

Will be released at 1 PM ET

It is Friday, and that means that the Baker Hughes rig count will be released for the current week.

Last week, total rig counts totaled 539. Oil rig counts accounted for 432, while gas rigs stood at 105.

The price of Crude oil can be impacted (although the reaction of late has been more muted). Crude oil futures are currently trading at $50.73,, plus $.10 on the day. The high reached $51.02 while the low extended to $50.21.

Later today, we will get the other Friday afternoon staple...the CFTC Commitment of traders report. That comes out at around 3:30 PM ET. Last week the speculative shorts in the GBP were near record levels.