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GBP/USD consolidates in a range below 1.2400 mark, near six-week top set on Friday

The GBP/USD pair kicks off the new week on a subdued note and consolidates Friday’s strong move up its highest level since September 20. Spot prices currently trade around the 1.2375 region, nearly unchanged for the day, and remain at the mercy of the US Dollar (USD) price dynamics. The USD Index (DXY), which tracks the Greenback […]

USD/JPY trades with a mild positive bias above mid-149.00s, lacks follow-through

The USD/JPY pair attracts some dip-buying on the first day of a new week and for now, seems to have stalled a three-day-old corrective decline from the 151.70 area, or its highest level since October 2022 touched last Tuesday. Spot prices currently trade just above the mid-149.00s, up nearly 0.15% for the day, and draw […]

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. […]

November 3, 2023
By admin

Jobs Data in The Spotlight

European index futures point to a higher opening of the European session, following an upbeat trading on Wall Street yesterday and in Asia-Pacific earlier today. Weakish earnings report from Apple did not derail market sentiment with US index futures extending their bullish streak for the fifth day. Jobs data from the United States and Canada […]

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. […]