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Dow Jones futures steady as traders await US Nonfarm Payrolls
Dow Jones futures inch lower by 0.06% to trade near 53,710 during European hours on Friday. Meanwhile, S&P 500 futures advance by 0.06% to trade near 7,760, while Nasdaq 100 futures rise by 0.38% to trade around 29,640.
British Pound rebounds swiftly from one-month low against broadly weaker Yen
The GBP/JPY cross stages a goodish intraday recovery from the vicinity of the 210.00 psychological mark, though it remains on track to register heavy weekly losses.
USD/JPY Price Forecast: US Dollar recovery is likely to be tested at 156.70 area
The Japanese Yen (JPY) is trimming some gains against the US Dollar (USD) on Friday, but still on track to its strongest weekly performance since July’s US-Japan coordinated intervention.
Gold: Rebound on softer Fed expectations – OCBC
OCBC’s Christopher Wong reports Gold rebounded over 2% towards 4510 as Waller’s comments led markets to pare September Fed hike expectations, lowering UST yields and the Dollar.
Silver Price Forecast: XAG/USD corrects $66.30 amid caution ahead of US NFP data
Silver price (XAG/USD) retreats to near $66.30 in the European trading session on Friday after posting a fresh five-day high near $68.00. The white metal comes under pressure ahead of the United States (US) Nonfarm Payrolls (NFP) data for August, which will be published at 12:30 GMT.
Euro steadies against Canadian Dollar following Germany’s Factory Orders data
EUR/CAD declines after opening at a bullish gap, remaining steady at 1.6040 during the early European hours on Friday.
Indian Rupee: RBI inflows and reduced tail risks – MUFG
MUFG’s Michael Wan notes strong Indian Rupee (INR) outperformance driven by larger-than-expected US Dollar (USD) inflows from Reserve Bank of India's (RBI) FCNR(B) measures, which now exceed US$130bn.
US Dollar Index Price Forecast: Holds steady near 99.00 below key averages before US jobs data
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.00 in the early European trading hours on Friday.
US Dollar: Fed outlook stays data-dependent after Waller – Danske Bank
Danske Research Team highlights that Fed Governor Waller is inclined to keep rates unchanged in September if August inflation shows further progress, but would consider a hike if inflation comes in hot.
Euro pulls back against a firmer British Pound following hawkish BoE rhetoric
The Euro (EUR) trades lower against the British Pound (GBP) on Friday, snapping a four-day rally, after hawkish comments from Bank of England (BoE) committee member Huw Pill provided a fresh boost for the Cable on Thursday.
Oil: Elevated prices face fragile support – ING
ING analysts Warren Patterson and Ewa Manthey note that Oil prices, including ICE Brent above US$95/bbl, remain supported by heightened US-Iran tensions and robust Iraqi exports routed via the Strait of Hormuz.
New Zealand Dollar advances as US Dollar struggles on softening hawkish expectations
NZD/USD gains ground for the second successive day, trading around 0.5900 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) struggles amid softening hawkish expectations surrounding the Federal Reserve's (Fed) monetary policy path.
Forex Today: US Dollar retreats on easing Fed rate hike bets, focus shifts to NFP
Here is what you need to know on Friday, September 4: