Nonfarm Payrolls was published. What are the results?
We saw a very strong employment report from the United States, which naturally caused an increase in demand for the Dollar. Although this growth is still very modest (almost an hour USDX added just 0.2%), it is worth paying attention that the American economy retains the trend growth rate after the failure in September (fact - above average for half a year).
The unemployment rate remained at 3.7% (lows since 1969), although participation rate (the share of the economically active population) returned up to 62.9%.
There is one small point to stay a little bit caution. The average hourly earnings in the U.S. for October rose by 0.2% to 3.1% yoy, which is slightly worse than expected 3.2%.
Anyway, this is the highest growth rate since 2009 and a return to pre-crisis rates.
At the moment, the labour market retains its power and remains extremely "tight". This could be a strong signal for the Fed to continue tightening the policy.
Perhaps these fears were the reason for the return of tensions in the US stock markets, where key indices went down immediately after the publication of a strong employment report.
We saw a very strong employment report from the United States, which naturally caused an increase in demand for the Dollar. Although this growth is still very modest (almost an hour USDX added just 0.2%), it is worth paying attention that the American economy retains the trend growth rate after the failure in September (fact - above average for half a year).
The unemployment rate remained at 3.7% (lows since 1969), although participation rate (the share of the economically active population) returned up to 62.9%.
There is one small point to stay a little bit caution. The average hourly earnings in the U.S. for October rose by 0.2% to 3.1% yoy, which is slightly worse than expected 3.2%.
Anyway, this is the highest growth rate since 2009 and a return to pre-crisis rates.
At the moment, the labour market retains its power and remains extremely "tight". This could be a strong signal for the Fed to continue tightening the policy.
Perhaps these fears were the reason for the return of tensions in the US stock markets, where key indices went down immediately after the publication of a strong employment report.
As the Bitcoin continues to trade sideways near $6,300, leading commentators declare they are “pleasantly surprised” with the market stability.
Stablecoins can be new crypto market triggers as recently they have been actively gaining capitalization and has grown numerically.
While Tether lost about $1 billion of capitalization only in October, Gemini Dollar (GUSD), Paxos Standart (PAX), TrueUSD (TUSD), USD Coin (USDC) all together attracted more than $400 million. Different large projects are standing behind these tokens, but overall they may have one goal: to have at their disposal the “manual analogue of digital liquidity” in order to be able to influence the market in future.
Read more
Stablecoins can be new crypto market triggers as recently they have been actively gaining capitalization and has grown numerically.
While Tether lost about $1 billion of capitalization only in October, Gemini Dollar (GUSD), Paxos Standart (PAX), TrueUSD (TUSD), USD Coin (USDC) all together attracted more than $400 million. Different large projects are standing behind these tokens, but overall they may have one goal: to have at their disposal the “manual analogue of digital liquidity” in order to be able to influence the market in future.
Read more
FxPro News
FxPro Blog for forex traders
As the Bitcoin continues to trade sideways near $6,300, leading commentators declare they are “pleasantly surprised” with the market stability sim...
Important upcoming events and publications on November, 5:
🇬🇧 09:30 U.K. Services PMI is able to influence the British currency, as traders and investors will try to assess how much the uncertainty around Brexit has affected business sentiment. The Manufacturing index last week came out noticeably lower than expectations, while activity in the Construction was above forecast.
🇺🇸 14:45 US Services PMI by Markit is interesting because of its comparation with the European business activity indices. In fact, it is the more realistic indicator to track the difference in growth rates between Europe and USA.
🇺🇸 15:00 ISM Non-manufacturing PMI is a good indicator of US business activity, but is likely to have less impact on the markets this time, as it is published after the US employment statistics.
Visit https://fxpro.news/economic-calendar/ for the details
🇬🇧 09:30 U.K. Services PMI is able to influence the British currency, as traders and investors will try to assess how much the uncertainty around Brexit has affected business sentiment. The Manufacturing index last week came out noticeably lower than expectations, while activity in the Construction was above forecast.
🇺🇸 14:45 US Services PMI by Markit is interesting because of its comparation with the European business activity indices. In fact, it is the more realistic indicator to track the difference in growth rates between Europe and USA.
🇺🇸 15:00 ISM Non-manufacturing PMI is a good indicator of US business activity, but is likely to have less impact on the markets this time, as it is published after the US employment statistics.
Visit https://fxpro.news/economic-calendar/ for the details
FxPro News
Forex Economic Calendar - FxPro News
Stay informed and plan with confidence using our FX economic calendar, designed to help traders follow key financial updates that move the market. By tracking major releases, you can make smarter decisions in forex trading, manage risk, and choose better.
Strong employment data heightened the fears that the Fed will actively raise rates in the coming months to prevent overheating of the economy and not to push inflation out of control.
The trend of folding incentives was supported on Monday morning by the head of the Bank of Japan comments. In his speech, Kuroda noted that the strengthening of the economy allows to abandon excessively soft monetary policy.
A little over a week ago, the ECB head pointed to the continuation of plans to winding down the QE programme. Bank of England last week hints its intention to raise rates more decisively if Brexit will go smoothly.
Such a tone from large and influential central banks is developing fears in the markets about the lack of liquidity in the markets.
Read more
The trend of folding incentives was supported on Monday morning by the head of the Bank of Japan comments. In his speech, Kuroda noted that the strengthening of the economy allows to abandon excessively soft monetary policy.
A little over a week ago, the ECB head pointed to the continuation of plans to winding down the QE programme. Bank of England last week hints its intention to raise rates more decisively if Brexit will go smoothly.
Such a tone from large and influential central banks is developing fears in the markets about the lack of liquidity in the markets.
Read more
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Nonfarm Payrolls was published. What are the results?
We saw a very strong employment report from the United States, which naturally caused an increase in demand for the Dollar. Although this growth is still very modest (almost an hour USDX added just 0.2%)…
We saw a very strong employment report from the United States, which naturally caused an increase in demand for the Dollar. Although this growth is still very modest (almost an hour USDX added just 0.2%)…
#WeeklyQuote
Trump's Twitter: "I had a long and very good conversation with President Xi Jinping of China... with a heavy emphasis on Trade. Those discussions are moving along nicely..."
https://twitter.com/realDonaldTrump/status/1057997981922873344
This helped markets to lift a bit at the end of last week after reports that Trump asked key cabinet secretaries to have their staff draw up a potential deal. Let's see what would become a driver this day!
Trump's Twitter: "I had a long and very good conversation with President Xi Jinping of China... with a heavy emphasis on Trade. Those discussions are moving along nicely..."
https://twitter.com/realDonaldTrump/status/1057997981922873344
This helped markets to lift a bit at the end of last week after reports that Trump asked key cabinet secretaries to have their staff draw up a potential deal. Let's see what would become a driver this day!
Twitter
Donald J. Trump
Just had a long and very good conversation with President Xi Jinping of China. We talked about many subjects, with a heavy emphasis on Trade. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina. Also had good discussion…
Wave Analysis: #Palladium is expected to rise further and re-test the next resistance level 1130.00. Read more
Brent crude lost more than 16% from its peak value in early October. Essentially, a decrease of more than 20% from peak value is considered a sign of a bear market for the instrument and indicates a further decline.
During the October sale-off, the oil fell under the support line of the upward channel. However, such an exit from the channel still requires confirmation. Strictly speaking, price should fall below previous local lows.
It is interesting to see both lines dangerously passing close to the round level of $70. There is also an important prior support area, from which Brent Crude returned to growth in August.
Fundamentally, there are fears of a new episode of overproduction. However, the importance of technical analysis and psychological mark in this case are difficult to overestimate.
Alternative scenario: If Brent manages to stay above $70, this will imply a very strong signal for further growth.
During the October sale-off, the oil fell under the support line of the upward channel. However, such an exit from the channel still requires confirmation. Strictly speaking, price should fall below previous local lows.
It is interesting to see both lines dangerously passing close to the round level of $70. There is also an important prior support area, from which Brent Crude returned to growth in August.
Fundamentally, there are fears of a new episode of overproduction. However, the importance of technical analysis and psychological mark in this case are difficult to overestimate.
Alternative scenario: If Brent manages to stay above $70, this will imply a very strong signal for further growth.
🗓 Important upcoming events and publications for November 6 (GMT):
🇪🇺 09:00 Final euro area Composite PMI may slightly increase the #EUR volatility if the actual value is rather different from the expectations. The preliminary October estimate noted a business activity slowdown to the 2-years lows rate.
🇪🇺 10:00 EU Producer Price Index has strengthened its growth since May with the increased tension of US trade conflicts. Accelerating PPI spurs consumer inflation amid healthy growth and is able to support #EUR.
🇺🇸 15:00 JOLTs Job Openings in the U. S. has attracted attention in recent months as it several times in a row updates historical records reflecting a tight labor market. Another piece of strong data can support #USD.
🇺🇸 U.S. Midterm elections. The first exit poll data will be published at 5 am (GMT) Wednesday. But as data becomes available, the situation and market reaction can change dramatically (remember the US presidential election and Brexit in 2016?)
Visit https://fxpro.news/economic-calendar/ for more information.
🇪🇺 09:00 Final euro area Composite PMI may slightly increase the #EUR volatility if the actual value is rather different from the expectations. The preliminary October estimate noted a business activity slowdown to the 2-years lows rate.
🇪🇺 10:00 EU Producer Price Index has strengthened its growth since May with the increased tension of US trade conflicts. Accelerating PPI spurs consumer inflation amid healthy growth and is able to support #EUR.
🇺🇸 15:00 JOLTs Job Openings in the U. S. has attracted attention in recent months as it several times in a row updates historical records reflecting a tight labor market. Another piece of strong data can support #USD.
🇺🇸 U.S. Midterm elections. The first exit poll data will be published at 5 am (GMT) Wednesday. But as data becomes available, the situation and market reaction can change dramatically (remember the US presidential election and Brexit in 2016?)
Visit https://fxpro.news/economic-calendar/ for more information.
FxPro News
Forex Economic Calendar - FxPro News
Stay informed and plan with confidence using our FX economic calendar, designed to help traders follow key financial updates that move the market. By tracking major releases, you can make smarter decisions in forex trading, manage risk, and choose better.
October was a brutal month not only for the U.S. IT-Companies. Crude oil prices also had significant and important shifts.
After renewing the 4-year highs, Brent Crude Oil has lost more than 16% to date. By the beginning of October, its rally had been the strongest in more than 6 years, according to the RSI index. However, as in 2012, such a sharp growth was a harbinger of a serious twist of fate.
Read more why $70 is so Important for Brent
After renewing the 4-year highs, Brent Crude Oil has lost more than 16% to date. By the beginning of October, its rally had been the strongest in more than 6 years, according to the RSI index. However, as in 2012, such a sharp growth was a harbinger of a serious twist of fate.
Read more why $70 is so Important for Brent
FxPro News
FxPro Blog for forex traders
October was a brutal month not only for the U.S. IT-Companies. Crude oil prices also had significant and important shifts.
After renewing the 4-yea...
After renewing the 4-yea...
Three scenarios for market reaction to the upcoming U.S. midterm elections
The upcoming midterm elections have attracted the attention of the financial markets, as they can give an answer to the question of whether the American people will continue to support Trump. A potential victory of the Democratic Party could seriously undermine the president's initiatives. The President, who is severely restricted in his legislative initiatives, could be similar to the "lame duck" situation, the last time we saw it during final years of Obama's presidency.
Wall Street has its own interest...
Read more
The upcoming midterm elections have attracted the attention of the financial markets, as they can give an answer to the question of whether the American people will continue to support Trump. A potential victory of the Democratic Party could seriously undermine the president's initiatives. The President, who is severely restricted in his legislative initiatives, could be similar to the "lame duck" situation, the last time we saw it during final years of Obama's presidency.
Wall Street has its own interest...
Read more
FxPro News
FxPro Blog for forex traders
The upcoming midterm elections have attracted the financial markets attention, as they can give an answer to the question of whether the American peop...
Important upcoming events and publications for November 7 (GMT):
🇩🇪 07:00 German Industrial production haven't got a strong influence on the #EUR dynamics usually, but it's still a good country and region economic activity indicator. If the values are worse than have expected, we'll see some pressure on the euro quotes.
🇺🇸 15:30 U.S. oil inventories and production data can seriously spur increased volatility. In connection with the US sanctions against Iran, the reserves and production dynamics has a significant impact on the #Brent and #WTI prices. Now market's attention is drawn to the growth during the previous six weeks in a row, which has spurred the decline in prices.
🇳🇿 20:00 The Reserve Bank of New Zealand Interest Rate Decision can seriously affect the course of pairs with #NZD. In market focuse is the official comments direction (whether there will be hints of readiness to the tighten policy).
Visit https://ru.fxpro.news/economic-calendar/ for more details.
🇩🇪 07:00 German Industrial production haven't got a strong influence on the #EUR dynamics usually, but it's still a good country and region economic activity indicator. If the values are worse than have expected, we'll see some pressure on the euro quotes.
🇺🇸 15:30 U.S. oil inventories and production data can seriously spur increased volatility. In connection with the US sanctions against Iran, the reserves and production dynamics has a significant impact on the #Brent and #WTI prices. Now market's attention is drawn to the growth during the previous six weeks in a row, which has spurred the decline in prices.
🇳🇿 20:00 The Reserve Bank of New Zealand Interest Rate Decision can seriously affect the course of pairs with #NZD. In market focuse is the official comments direction (whether there will be hints of readiness to the tighten policy).
Visit https://ru.fxpro.news/economic-calendar/ for more details.
FxTeam
Новости финансового рынка от FxPro
Often after the elections, even if their results meet expectations, there is some upswing in the markets, following the reduction of the uncertainty.
Now the focus of the market returns to other macrotrends. At the time of writing, Chinese indices and Japanese Nikkei225 have returned the increase since the beginning of the day and have entered the red zone to preserve fears before the trade wars.
The dollar has been losing ground since the beginning of the month, following the recovery of the demand on the U.S. stock markets and the return of demand for the pound and the euro.
Read more
Now the focus of the market returns to other macrotrends. At the time of writing, Chinese indices and Japanese Nikkei225 have returned the increase since the beginning of the day and have entered the red zone to preserve fears before the trade wars.
The dollar has been losing ground since the beginning of the month, following the recovery of the demand on the U.S. stock markets and the return of demand for the pound and the euro.
Read more
FxPro News
FxPro Blog for forex traders
Preliminary estimates of the U.S. election results support a positive mood on the world markets, reducing the demand for protective assets and causing...