Free Trial

USD Softer Pre-Payrolls, With Focus on AHE

FOREX
  • The greenback is fading into the NY crossover, with a brief blip higher for the USD Index being largely erased into US hours. EUR/USD neared the weekly low of 0.9753, coinciding with a fade in GBP/USD to 1.1116.
  • GBP is the firmest currency in G10, but recent ranges are largely being respected. EUR/GBP is within range of yesterday's lows at 0.8718, a break below which opens key support and the bear trigger at 0.8649.
  • AUD/USD sits higher, narrowing the gap with first resistance at 1.1373 - the 23.6% retracement for the August - September upleg. A break above here opens 1.1434 ahead of the cycle high at 1.1491.
  • Focus turns to nonfarm payrolls, with markets looking for ~260k jobs added this month, while the unemployment rate is seen unchanged at 3.7%. Fedspeak takes focus following the figure, with Fed's Williams, Kashkari and Bostic due after the release.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.