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British Pound climbs above 1.3500 after weak US NFP data
The British Pound (GBP) strengthens against the US Dollar (USD) on Friday after a disappointing US Nonfarm Payrolls report prompts traders to scale back bets on Federal Reserve (Fed) interest-rate hikes. At the time of writing, GBP/USD trades around 1.3506, hovering near three-week highs.
Euro surges as shocking US NFP reverses Fed September hike expectations
EUR/USD jumps 0.43% on the day and trades around 1.1570 at the time of writing, as the US Dollar (USD) comes under heavy selling pressure following a much weaker-than-expected US employment report.
Equities: AI profitability doubts grow – Nordea
Nordea analysts Kirsti Sunde Midttun and Ole HÃ¥kon Eek-Nielsen argue that AI profitability faces structural pressure from high inference costs, rapid model depreciation and growing competition from free and open alternatives.
Canada's Unemployment Rate drops to 6.4% in July
Statistics Canada reported on Friday that the Unemployment Rate decreased to 6.4% in July, below what markets were expecting.
Chile Trade Balance registered at $1990M, below expectations ($2380M) in July
Chile Trade Balance registered at $1990M, below expectations ($2380M) in July
United States Unemployment Rate registered at 4.1%, below expectations (4.2%) in July
United States Unemployment Rate registered at 4.1%, below expectations (4.2%) in July
United States Nonfarm Payrolls came in at -23K below forecasts (80K) in July
United States Nonfarm Payrolls came in at -23K below forecasts (80K) in July
United States U6 Underemployment Rate remains unchanged at 7.9% in July
United States U6 Underemployment Rate remains unchanged at 7.9% in July
United States Labor Force Participation Rate down to 61.4% in July from previous 61.5%
United States Labor Force Participation Rate down to 61.4% in July from previous 61.5%
United States Average Weekly Hours in line with expectations (34.3) in July
United States Average Weekly Hours in line with expectations (34.3) in July
United States Average Hourly Earnings (YoY) below forecasts (3.5%) in July: Actual (3.2%)
United States Average Hourly Earnings (YoY) below forecasts (3.5%) in July: Actual (3.2%)
United States Average Hourly Earnings (MoM) came in at 0.1% below forecasts (0.3%) in July
United States Average Hourly Earnings (MoM) came in at 0.1% below forecasts (0.3%) in July
Canada Unemployment Rate below forecasts (6.5%) in July: Actual (6.4%)
Canada Unemployment Rate below forecasts (6.5%) in July: Actual (6.4%)