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BMW releases better-than-expected quarterly results

Overall market situation: Friday’s session on the markets brings a negation of the wave of gains on the Old Continent from those still seen in recent sessions. Investors’ attention in the last session of this week will be focused on the reading of the NFP report from the US, which will test optimism assuming that […]

USD/CHF advances toward 0.9100 ahead of US NFP data

The USD/CHF pair extends recovery to near 0.9070 ahead of the United States labor market data for October. The Swiss Franc asset aims to recapture the 0.9100 resistance while the US Dollar Index (DXY) has turned sideways around 106.00. S&P500 futures generated some losses in the European session, portraying some decline in the risk appetite of the market participants. The […]

Pound Sterling alternates between positive risk-on and poor economic outlook

The Pound Sterling (GBP) trades in a narrow range with the downside cushioned due to improved market sentiment but gains are capped due to the stagnant growth outlook for the UK economy. The near-term demand for the GBP/USD pair depends on the performance of the UK economy in the fourth quarter of 2023. The latest information about the UK […]

NFP Forecast: US employers expected to add significantly less Nonfarm Payrolls in October

The Bureau of Labor Statistics (BLS) is due to release the highly-anticipated Nonfarm Payrolls (NFP) report from the United States (US) on Friday, which could have major ramifications for US Federal Reserve (Fed) policy outlook. The US Dollar (USD) is poised for a big reaction to the labor market data, as NFP data tends to infuse […]

Canada Employment Preview: Forecasts from five major banks, deterioration in labour market conditions

Canada’s employment data for October will be reported by Statistics Canada on Friday, November 3 at 12:30 GMT and as we get closer to the release time, here are forecasts from economists and researchers at five major banks regarding the upcoming jobs figures.  The North American economy is expected to have added 22.5K jobs vs. […]

USD/INR gains ground, all eyes on the US NFP data

Indian Rupee (INR) trades with modest intraday losses on Friday, backed by the renewed US Dollar (USD) demand. Despite the uncertainty, India’s Chief Economic Advisor (CEA) V. Anantha Nageswaran said on Thursday that the Reserve Bank of India (RBI) would not be forced to tighten monetary policy even if the US Federal Reserve (Fed) raised […]

EUR/USD Price Analysis: Remains below 50-day SMA, bearish flag pattern in play ahead of NFP

The EUR/USD pair holds steady through the Asian session on Friday and for now, seems to have stalled the overnight pullback from the vicinity of the 1.0670-1.0675 hurdle, or the weekly high. Spot prices currently trade around the 1.0625-1.0630 region, nearly unchanged for the day, as traders keenly await the US NFP report before positioning for the next leg […]

GBP/USD Price Analysis: Holds positive ground above 1.2200, the next contention is seen at 1.2170

The GBP/USD pair holds positive ground for the second consecutive day during the early European session on Friday. As widely expected, the Bank of England (BoE) decided to maintain the interest rate unchanged at 5.25% on Thursday. During the press conference, BoE Governor Andrew Bailey stated that an additional rate hike could be appropriate, but Bailey disregarded rate cuts. […]

Gold price trades with modest intraday gains, lacks follow-through ahead of US jobs data

Gold price (XAU/USD) attracts some buyers for the second successive day on Friday and sticks to its modest intraday gains heading into the European session. Bets that the Federal Reserve (Fed) is nearing the end of its policy-tightening campaign and start cutting rates in June 2024 keep the US Dollar (USD) bulls on the defensive. […]

WTI trades with a positive bias above $82.00, US NFP data looms

Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.60 so far on Friday. WTI prices trade in positive territory for the second consecutive day on the risk appetite in the market and the weaker of the US Dollar (USD). At its November meeting, the Federal Open Market Committee (FOMC) decided to maintain the […]