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Euro retreats against Pound Sterling as Eurozone Retail Sales disappoint
EUR/GBP trades on the back foot on Friday, snapping a four-day winning streak that pushed the cross above 0.8600 to its highest level since July 1. Softer-than-expected Eurozone Retail Sales data weighs modestly on the Euro (EUR).
United States U6 Underemployment Rate declined to 7.7% in August from previous 7.9%
United States U6 Underemployment Rate declined to 7.7% in August from previous 7.9%
United States Unemployment Rate in line with forecasts (4.1%) in August
United States Unemployment Rate in line with forecasts (4.1%) in August
United States Labor Force Participation Rate: 61.6% (August) vs 61.4%
United States Labor Force Participation Rate: 61.6% (August) vs 61.4%
United States Nonfarm Payrolls registered at 162K above expectations (56K) in August
United States Nonfarm Payrolls registered at 162K above expectations (56K) in August
United States Average Weekly Hours above expectations (34.3) in August: Actual (34.4)
United States Average Weekly Hours above expectations (34.3) in August: Actual (34.4)
United States Average Hourly Earnings (YoY) above forecasts (3%) in August: Actual (3.1%)
United States Average Hourly Earnings (YoY) above forecasts (3%) in August: Actual (3.1%)
Canada Unemployment Rate meets forecasts (6.4%) in August
Canada Unemployment Rate meets forecasts (6.4%) in August
United States Average Hourly Earnings (MoM) meets forecasts (0.3%) in August
United States Average Hourly Earnings (MoM) meets forecasts (0.3%) in August
Canada Participation Rate: 65% (August) vs previous 65.1%
Canada Participation Rate: 65% (August) vs previous 65.1%
Canada Net Change in Employment below expectations (15K) in August: Actual (-41.7K)
Canada Net Change in Employment below expectations (15K) in August: Actual (-41.7K)
European Central Bank: Inflation-driven hike prospects – DBS
DBS Group Research expects the European Central Bank (ECB) to raise the deposit facility rate to 2.50%, citing a resilient inflation-growth mix in the Eurozone. The report notes headline inflation has moved further above target, while core pressures remain contained for now.
WTI Oil retreats below $89 despite persistent tensions around the Strait of Hormuz
West Texas Intermediate (WTI) US Oil declines 1.21% on Friday and trades around $88.55 per barrel at the time of writing.