[MARKET ANALYSIS] FX muted ahead of the US Jobs Report
ORIGINAL · Newsquawk[MARKET ANALYSIS] FX muted ahead of the US Jobs ReportRead originalHide original
DXY is slightly higher, supported as US Treasury yields rebound from Thursday's selloff. Focus will be on the US Jobs Report, with non-farm payrolls expected to rise to 65K for October, from the prior 29K, with the unemployment rate expected to hold steady at 4.2%. EUR remains within Thursday's confines of 1.1203-1.1268, but edges towards the lower end of the range. Light docket for Europe, as markets will wait for the US data. GBP is flat, with EUR/GBP holding below the 0.8350 mark following the hawkish BoE rate decision. BoE's Pill is expected to speak later today, and with the member seen as hawkish, it will be key to see his view on the future rate path. JPY saw some initial strength at the beginning of equity futures trade, with USD /JPY falling to a low of 157.26 before reversing to the 158.00 handle as US equity futures find a steady footing. Antipodeans are essentially flat, with AUD/USD contained within Thursday's range after its underperformance the prior session.
The pre-report note described a slightly higher DXY, currency-specific moves, and forecasts of 65K October payroll growth and 4.2% unemployment; actual results were not supplied.
News detail
DXY is slightly higher, supported as US Treasury yields rebound from Thursday's selloff. Focus will be on the US Jobs Report, with non-farm payrolls expected to rise to 65K for October, from the prior 29K, with the unemployment rate expected to hold steady at 4.2%. EUR remains within Thursday's confines of 1.1203-1.1268, but edges towards the lower end of the range. Light docket for Europe, as markets will wait for the US data. GBP is flat, with EUR/GBP holding below the 0.8350 mark following the hawkish BoE rate decision. BoE's Pill is expected to speak later today, and with the member seen as hawkish, it will be key to see his view on the future rate path. JPY saw some initial strength at the beginning of equity futures trade, with USD /JPY falling to a low of 157.26 before reversing to the 158.00 handle as US equity futures find a steady footing. Antipodeans are essentially flat, with AUD/USD contained within Thursday's range after its underperformance the prior session.
What do investors think?
StockNow uses AI to translate and analyze information and does not guarantee its accuracy or completeness.