8 Nov 2013
Session Recap: Calm ahead of NFP
FXstreet.com (Córdoba) - The FX market remains in consolidation Friday after wild moves seen the previous day in the wake of the ECB surprising rate cut and a strong US GDP reading and ahead of the nonfarm payrolls figures.
The EUR/USD has traded in a slim range, falling briefly below 1.3400 after the French downgrade by S&P. The GBP/USD fell to daily lows at the 1.6060 area weighed by disappointing trade balance data. USD/JPY was little changed around 98.20 while AUD/USD failed to recover above 0.9480 and erased daily gains.
During the New York session, focus will be on the US nonfarm payrolls with analysts forecasting a 125K gain in October. Also watch for US personal income, consumer spending, core PCE prices, Reuters/Michigan Consumer Sentiment.
Main Headlines in Europe:
S&P downgrades France to AA from AA+, outlook stable
Switzerland: Unemployment Rate at 3.2% in October
Germany: Trade surplus widens against expectations in September
Morning outlook: Focus on non-farms, euro remains under pressure
Switzerland: Real Retail Sales rise by 1% in September
EMU: Construction Output at 1.7% in Q3
The EUR/USD has traded in a slim range, falling briefly below 1.3400 after the French downgrade by S&P. The GBP/USD fell to daily lows at the 1.6060 area weighed by disappointing trade balance data. USD/JPY was little changed around 98.20 while AUD/USD failed to recover above 0.9480 and erased daily gains.
During the New York session, focus will be on the US nonfarm payrolls with analysts forecasting a 125K gain in October. Also watch for US personal income, consumer spending, core PCE prices, Reuters/Michigan Consumer Sentiment.
Main Headlines in Europe:
S&P downgrades France to AA from AA+, outlook stable
Switzerland: Unemployment Rate at 3.2% in October
Germany: Trade surplus widens against expectations in September
Morning outlook: Focus on non-farms, euro remains under pressure
Switzerland: Real Retail Sales rise by 1% in September
EMU: Construction Output at 1.7% in Q3