The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
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.
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!