Forex headlines for October 3, 2014:
- Sept non-farm payrolls 248K vs 215K expected
- August reading revised to 180K from 142K
- Unemployment rate 5.9% vs 6.1% exp – lowest since 2008
- Participation 62.7% vs 62.8% prior – lowest since 1978
- Avg hourly earnings +2.0% y/y vs +2.2% exp
- September 2014 US ISM non-manufacturing PMI 58.6 vs 58.5 exp
- Catalonia will go ahead with independence vote
- August 2014 US international trade -40.1bn vs -40.9bn exp m/m
- August 2014 Canadian trade balance -0.61bn vs +1.55bn exp
- September 2014 US Markit services PMI final 58.9 vs 58.5 exp
- Hilsenrath: Early rate hike “remains on the table”, Fed will need to make tough decision on guidance
- ECB’s Praet: Difficult to give precise figure on size of TLTRO, ABS and covered bond package
- Ukraine-Russia gas talks may restart at the end of next week: Ukraine minister
- Is the BOJ helping to keep US bonds bid?
- CFTC Commitments of Traders: USD/JPY longs were the courageous ones
- S&P 500 up 21 points to 1968, down 0.8% on the week
- Gold down $22 to $1192
- WTI crude down $1.32 to $89.67
- USD leads, NZD lags
It was a good, old-fashioned dollar rally. It went only one-way and it didn’t stop for much. The buck didn’t descriminate after non-farm payrolls and the tiny bounces ahead of the European close were hardly noticeable.
US dollar murderers row
The best performers in the FX market this week.
And a hearty congrats to Oleh for winning the non-farm payrolls contest — a copy of Greg’s book. But I have to say I’m ashamed that not one of the 229 guesses hit the nail on the head!
Finally, thanks so much to everyone for helping us pass 50,000 twitter followers this week. If you’re not following us @forexlive, get on board.
