Market News
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United States: Solid jobs data support steady Fed – Commerzbank
Commerzbank’s Dr. Christoph Balz notes that the U.S. labor market surprised to the upside in August, with Nonfarm Payrolls and private sector jobs both rising strongly while the unemployment rate held at 4.1%. Wage growth continued to slow.
European Central Bank: September hike path and oil risks – Nomura
Nomura’s Global Markets Research team, led by Andrzej Szczepaniak, George Buckley and Josie Anderson, expects the ECB to raise the depo rate by 25bp to 2.50% at the 10 September meeting and then pause.
"Lower the rate or I’ll stop trading": Trump pressures Fed after strong US jobs report
In a post on Truth Social, United States (US) President Donald Trump welcomed the creation of 162K jobs in August, a figure he described as significantly above expectations.
Canadian Dollar: Jobs weakness caps gains against US Dollar - TD Securities
TD Securities strategists note that Canada’s softer August labour report, including weaker employment momentum and slower wage growth, is unlikely to materially change the Bank of Canada’s (BoC) assessment of the labour market.
Canadian Dollar slides as Canada sheds 41.7K jobs, US payrolls surge
USD/CAD accelerates sharply higher on Friday, trading around 1.3850 at the time of writing, up 0.39% on the day.
Canada Ivey Purchasing Managers Index s.a registered at 64.3 above expectations (56.2) in August
Canada Ivey Purchasing Managers Index s.a registered at 64.3 above expectations (56.2) in August
Canada Ivey Purchasing Managers Index up to 62.7 in August from previous 54.1
Canada Ivey Purchasing Managers Index up to 62.7 in August from previous 54.1
US Dollar: Jobs strength lifts hike odds – ING
ING’s James Knightley notes that stronger-than-expected US August jobs data, with 162,000 new positions and upward revisions, has increased the perceived likelihood of a September Federal Reserve rate hike.
British Pound trims losses against US Dollar after NFP-driven volatility
GBP/USD recovers part of its initial drop on Friday after stronger-than-expected United States (US) employment data briefly lifts the US Dollar (USD). The pair fell to an intraday low of 1.3482 immediately after the release before rebounding. At the time of writing, GBP/USD trades around 1.3512.
Gold: Central bank buying underpins prices – ING
ING’s Warren Patterson and Ewa Manthey highlight that central banks, led by China and Poland, continued net Gold purchases in July, supporting structural demand despite a slower pace than last year.
Euro slips against US Dollar as Nonfarm Payrolls crush expectations
EUR/USD comes under selling pressure on Friday as the US Dollar (USD) strengthens following the release of the upbeat United States (US) employment report. At the time of writing, the pair trades around 1.1605, down roughly 0.18% on the day, after retreating from an intraday high of 1.1633.
Japanese Yen steadies against US Dollar after strong NFP report
USD/JPY trades around 155.85 on Friday at the time of writing, virtually unchanged on the day.
Mexican Peso: Trade talks support Peso against US Dollar - Societe Generale
Societe Generale reports that USD/MXN has moved back below 17.00 as Mexican officials engage with US counterparts on trade issues following a widening US-Canada rift. The bank highlights a sharp drop in Mexico’s car imports from China after tariff adjustments aimed at protecting local jobs.