With the exception of the Euro, currencies remain under pressure against the US Dollar into the end of the week. There has been plenty of uncertainty and caution ahead of today’s US jobs report and next week’s US election which has resulted in a natural flight to safety into the Buck.
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EUR/USD retreats toward 1.0850 ahead of NFP
EUR/USD corrects lower toward 1.0850 after posting gains for four consecutive days. Investors stay on the sidelines while waiting for the US October employment report, which will highlight Nonfarm Payrolls and Unemployment Rate figures.
GBP/USD stabilizes near 1.2900, eyes on US employment report
GBP/USD holds steady at around 1.2900 in the European session after closing deep in the red on Thursday, as the risk-averse market atmosphere didn't allow the pair to gain traction despite persistent USD weakness. Investors await US NFP data.
Gold recovers above $2,750 as traders brace for US NFP data
Gold recovers some lost ground and trades above $2,750 on Friday. The uncertainties surrounding the US presidential election and the ongoing geopolitical tensions in the Middle East provide some support to the precious metal as focus shifts to key US data.
US Nonfarm Payrolls Forecast: NFP October report set to show slower job growth
US Nonfarm Payrolls are expected to rise by 113K in October after September’s stellar gain of 254K. The United States Bureau of Labor Statistics will release the labor data on Friday at 12:30 GMT. The US Dollar’s fate and the Fed’s future interest rate cuts hinge on the US jobs data.
Bank of Japan holds rates steady amid signs of modest GDP growth
Monthly industrial production results have been mixed but generally indicate a modest recovery in third-quarter GDP. Clear guidance from the Bank of Japan remains elusive, with each upcoming meeting being pivotal.
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