On Friday, October 4, investors expect the publication of the most important statistics of the week – information about the US labor market (Nonfarm Payrolls). Analysts need to understand how much the US-China confrontation slows down the global economy. Depending on whether the indicators are better or worse than the forecast, the Fed may lower/keep the same interest rate.
From 15:30 (GMT+3) the US will publish data on changes in the number of people employed in the non-agricultural sector and the unemployment rate (September). If the number of employees is above 140 thousand, the dollar (USD) will receive support.
At 17:00 (GMT+3), the business activity index (PMI) for September in Canada will be released.
Gold. Gold continues to hold above $1,500. October 4, gold futures cost $1,507 per troy ounce.
Oil. On Friday, oil grows by an average of 0.5%. On the morning of October 4, Brent futures were trading at $57.9 a barrel, and WTI crude oil was $52.6. Despite the growth, the raw material resource lost more than 6% this week. Bad US statistics can greatly reduce oil today.
The dollar index (DXY) is falling due to fears of a slowdown in the global economy and poor macroeconomic statistics from leading countries. Friday morning DXY is 98.8 against a basket of major currencies.
The pound rose on Thursday after a new draft agreement between the UK and the EU appeared. On the morning of October 4, the GBP/USD pair is trading around 1.2350.
On Friday, the euro is stable after yesterday’s growth. In the morning, the EUR/USD pair is trading around 1.0969.
The dollar is getting cheaper against the “protective” yen. On Friday morning, the pair USD/JPY is trading near 106.8.
On October 4, the dollar strengthens slightly against the Swiss franc. Today, the USD/CHF is trading at around 0.9994.
Daily Trading Signals
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