Welcome to Tuesday!
US NFP came weak, but earnings saved the day
US Nonfarm Payrolls (NFP) contracted by 33K in September. The consensus forecast was an increase of 83K. Such weak reading can be explained by the negative impact of devastating hurricanes.
At the same time, the unemployment rate declined from 4.4% to 4.2% and growth pace of average hourly earnings increased from 0.2% to 0.3%.
USD index strengthened from 93.80 to 94.00 on the release.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…