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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.
Federal Reserve: Close call on further tightening – Commerzbank
Commerzbank’s Dr. Christoph Balz expects the Federal Reserve to keep rates unchanged, but highlights a significant risk of another 25 bps hike.
Japanese Yen: Sharp rebound and Fed repricing – MUFG
MUFG’s Michael Wan highlights a sharp strengthening in the Japanese Yen, with USD/JPY dropping from 160 to around 155.30 as the Dollar broadly weakened and Asian FX gained.
United States Dollar Index edges higher to near 99.00 ahead of US NFP data
The US Dollar (USD) is marginally up on Friday ahead of the United States (US) Nonfarm Payrolls (NFP) data for August, which will be published at 12:30 GMT.
Silver Price Forecast: XAG/USD trapped below 100-day SMA as US NFP approaches
Silver (XAG/USD) consolidates with marginal losses on Friday following back-to-back daily gains, as traders avoid taking large positions ahead of the US Nonfarm Payrolls (NFP) report.
Canadian Dollar steadies at 1.3800 awaiting employment data from US and Canada
The Canadian Dollar (CAD) holds minor losses against the US Dollar (USD) on Friday, as the USD/CAD pair trades just above 1.3800 after bouncing from two-week lows at 1.3765.
India FX Reserves, USD: $740.8B (August 24) vs $729.33B
India FX Reserves, USD: $740.8B (August 24) vs $729.33B
Gold recovers from post-NFP low as US Dollar trims gains
Gold (XAU/USD) remains under pressure on Friday after stronger-than-expected United States (US) Nonfarm Payrolls (NFP) data revive expectations of a Federal Reserve (Fed) rate hike.