Forex traders will eagerly await the release of the August NFP report out of the US. Economists anticipate solid employment gains in the private sector with a minor slowdown in earnings on an annualized basis. Will today’s NFP report rally UD Dollar bulls after the sell-off we witnessed in September so far? The US Fed is expected to cut interest rates again this month and officials are watching the strength of the labor market as the global economy is slowing down as well as inflationary pressures from the wage sector. How will the USDCAD...
Japanese data released during the Asian morning trading session showed an increase in household spending for July, but at a sharply reduced rate as compared to June. This may be partially attributed to the unexpected contraction in labor cash earnings. The Japanese Yen extended its weakness which pushed the EURJPY further to the upside following its most recent breakout. Positive sentiment in regards to US-China trade talks have also caused risk-on traders to rotate out of safe-haven assets such as the Japanese Yen. How much longer can this...
This Friday, market participants will focus on labor statistics from the United States. Employment in the non-agricultural sector (NonFarm Payrolls), Average Hourly Earnings, as well as the Unemployment Rate will determine the future direction of the US currency.
The US and China confirmed that trade talks will resume in October, but will they actually yield positive results? Neither side has show willingness to cave to demands of the other and in the meantime the global economy continues to slow down. German factory order released this morning showed a much steeper contraction than economists expected. This partially negated the positive mood following yesterday’s upside surprise in Services and Composite PMI data out of the Eurozone. The EURUSD paused it bounce from yesterday and remains just below a...
The British pound rebounded from lows on Wednesday after the parliamentary debate, which opened the door for another delay with Brexit, while the dollar fell after weak manufacturing data fueled rates to aggressively weaken US monetary policy.