Market News
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Fed’s Goolsbee says inflation now outweighs labor concerns
Chicago Federal Reserve (Fed) President Austan Goolsbee said in an interview with Fox Business that the labor market is steady and that “the inflation side of the Fed’s job is more important.”
United States Baker Hughes US Oil Rig Count: 456 vs 455
United States Baker Hughes US Oil Rig Count: 456 vs 455
New Zealand Dollar rebounds after sharp US employment disappointment
NZD/USD advances on Friday and trades around 0.5610 at the time of writing, up 0.12% on the day. The New Zealand Dollar (NZD) benefits mainly from the decline in the US Dollar (USD), which comes under pressure following a significantly weaker-than-expected employment report.
US payrolls miss at 29K and the Dollar Index drops below 102.00
US employers added 29K jobs in September against a forecast of 90K, and July and August were revised down by a combined 60K. The unemployment rate rose to 4.2%, and hourly pay grew 3.0% over the year against a 3.2% forecast.
British Pound rebounds as NFP knocks out October Fed hike bets
The Pound Sterling (GBP) rises by over 0.41% against the US Dollar (USD) on Friday, as the US Unemployment Rate rises amid a worse-than-expected Nonfarm Payrolls report for September. At the time of writing, GBP/USD trades at 1.3250 after bouncing off daily lows beneath 1.3200.
US Dollar: Fading rallies as Fed pricing peaks – TD Securities
TD Securities' Macro Research’s FX team notes the softer US payrolls data is only marginally negative for the Dollar, with the labor market still described as buoyant and neither overheating nor deteriorating.
Denmark Currency Reserves: 693.2B (September) vs previous 693.6B
Denmark Currency Reserves: 693.2B (September) vs previous 693.6B
US Dollar: FOMC minutes to offer limited fresh clues – TD Securities
TD Securities analysts characterize the upcoming September FOMC minutes as largely outdated given subsequent employment and PCE data. The minutes are expected to show disagreement over how much further tightening is needed, but broad consensus that policy should remain more restrictive.
Japanese Yen gives back post-NFP gains despite US Dollar weakness
USD/JPY trades around 157.65 on Friday at the time of writing, down 0.28% on the day. The pair briefly dropped to 156.95 following the release of the United States (US) employment report before erasing the entire move and returning to pre-release levels.
Canada labour market: Tariff effects assessed – RBC
Royal Bank of Canada analysts review Canada’s September labour report, the first full dataset since U.S. Section 338 tariffs took effect. They estimate around 0.4% of Canada’s GDP and employment is tied to tariff-listed US demand.
RBI to keep tightening risks alive – MUFG
MUFG analysts Lin Li, Michael Wan, Lloyd Chan and Khang Sek Lee highlight that Asia FX will be driven by the Reserve Bank of India’s (RBI) finely balanced decision on 7 October.
US labour market: Softer jobs ease Fed hike risk – ABN Amro
ABN Amro’s Rogier Quaedvlieg notes September US labour market data came in weaker than expected, with payrolls at 29k versus consensus 90k and prior months revised down by 60k. He see the report as mixed but consistent with its base case and reducing pressure for an October Fed hike.
United States Factory Orders (MoM) meets expectations (0.1%) in August
United States Factory Orders (MoM) meets expectations (0.1%) in August