Forexlive European FX News 4 Oct: ho hum, when's the NFP coming?
European trading news
- Foreign banks dump US Treasuries
- UK PM Johnson: has committed to sending an A50 extension letter
- PM Johnson's spokeswoman on the wires
- EU Commission: No deadline set for reaching a Brexit deal
- Quick look at the Dollar Index pre-NFP
- Brexit: Irish Foreign minister: UK proposals a step forward
- Why a good jobs number won't help much today
- NFP: What to expect later (from Reuters)
- Currencies in focus: AUD and NZD strength against the USD, CHF weakness
- UK September new car registrations 1.3% vs -1.6%
- Germany September construction PMI 50.1 vs 46.3 prior
- Hong Kong leader Lam on recent rioting: In an occasion of serious danger
- Three things driving the JPY you should know about.
- France YTD August budget balance €-123.10bn vs -€109.70bn prior
- European trade ideas thread - October 04
- US Secretary of State Pompeo on tariffs
- Markets recover from yesterday awaiting NFP for next direction
- ICYMI: EU gives Boris one week to come up with a plan (and other Brexit news)
- UK Civil Aviation Authority: 26 flights scheduled to return 4,500 to UK
- Japan PM ABE: Ready to take 'all possible steps'
- US Energy Secretary Perry planning to step down by year end
- Dax: +0.04%
- UK FTSE: +0.26%
- Euro Stoxx: +0.13%
- France 40 (CAC): +0.17%
- Gold: +0.25% $1509
- US Oil: +0.15% 52.54
The major European indices have been mixed, but calm, and little changed overall following on Asia's quiet lead. (With the exception of the Hang Seng which closed down -1.11% on civil unrest concerns over the Hong Kong riots, with a new anti-mask law being passed).
The 'recovery' seen in stocks is fairly unimpressive with low volumes and a certain amount of correction was likely after the last few days of heavy selling. All eyes are fixed firmly on the NFP for the next sign of the health of the US economy. The flip in the Dollar performance this week is stark when we consider that the DXY started the week breaking out of 99.50. A weaker than expected reading and new dollar lows ahead. Even if we don't get a weaker than expected reading the dollar may still remain pressured.
The normal flow of Brexit chatter came across the wires and the EU have given the UK a week to come back to them with something more concrete, but it is not a 'deadline' for a deal. There was news that UK PM Johnson: has committed to sending an A50 extension letter, but doubts still remain whether he is planning a move to undermine the Benn Bill or not.
Have a very good weekend and thanks for all the helpful comments made during the last week .There is a nice, happy vibe in the comments sections at the moment due to a number of folks contribution. I am around for the first two days of next week before Justin returns on Wednesday.