The greenback slid sharply after the October non-farm payrolls report showed employment rising by 150k, underperforming estimates of 180k. Last month’s print was also revised down from 336k to 297k. Unemployment edged up to 3.9% from 3.8% as participation rates dipped to 62.7%. Meanwhile, wage inflation slowed slightly as average …
Read More »Gold poised to post a weekly loss as Dollar gains ground against bullion
The gold market has been seeing some two-way price action of late. After hitting close to $2,000 last month on geopolitical worries, Gold is poised for its first weekly loss in nearly a month as safe-haven demand cools ahead of today’s key US jobs data. Gold edged higher intraday but …
Read More »EUR and GBP are heading for weekly gains
The euro and pound are headed for weekly gains against the dollar on Friday, as appetite for global bonds led by the United States pushed yields down, as did the dollar, providing relief even to the faltering Japanese yen. However, the always important US non-farm payrolls data scheduled for 1230 …
Read More »US Dollar declines ahead of October’s NFP
The Dollar Index fell for the day to 106.15, a decrease of 0.50%. In line with the current risk-on trend, US government bond yields are also falling while Wall Street indexes are rising.Market participants are now concentrating on Friday’s Nonfarm Payrolls report for October. Following Wednesday’s decision and Chair Powell’s …
Read More »NFP Preview: Market Focus Shifts to US Employment Situation
On Friday morning, all eyes will be on Wall Street as the U.S. Bureau of Labor Statistics releases its latest employment survey. This report carries significant weight, as it can potentially influence the Federal Reserve’s monetary policy outlook. As a result, the market will likely experience heightened attention and scrutiny, …
Read More »EUR/USD pair higher following NFP data
Following the release of the US NFP, the EUR/USD pair gains significantly, rising 1.12% off the day’s low. Following a strong NFP result for the USD, broad market flows have turned decisively risk-on.Investor confidence data for October will be released on Monday, and this is what euro traders will be …
Read More »US Nonfarm Payrolls rise in September
Nonfarm Payrolls (NFP) in the United States increased by 336,000 in September, according to the US Bureau of Labour Statistics (BLS) on Friday. This reading was significantly higher than the market forecast of 170,000. The 187,000 increase in August was also raised higher to 227,000. The unemployment rate stayed at …
Read More »NFP Preview: Forecasts from major banks
The US Bureau of Labour Statistics (BLS) will release the September jobs report on Friday, October 6 at 12:30 GMT, and as the day approaches, here are the projections for the upcoming employment statistics from 4 major banks’ economists and researchers. Nonfarm payrolls are expected to rise by 170K in …
Read More »Market Drivers – US Session, NFP’s Eve
The US jobs report on Friday will be a major factor in determining the direction of the US dollar. There will be a 170,000 increase in nonfarm payrolls, and the unemployment rate will drop from 3.8% to 3.7%. A strong report might support the Dollar’s recovery, while weak numbers, consistent …
Read More »NFP data expected to lose momentum
On October 6 at 12:30 GMT, the US Bureau of Labour Statistics will release its employment report for September. Major bank economists and researchers anticipate that nonfarm payrolls will rise by 170K in September, down from 187K in August, and that the unemployment rate would drop down to 3.7%. Earnings …
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