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America's Roundup: Dollar slips as U.S. jobs-inspired rally fizzles, Wall Street rise, Gold gains, Oil settles up-October 5th,2019

Market Roundup

• US Nonfarm payrolls increase 136,000 in September

• US Unemployment rate falls to 3.5% from 3.7% in August

• US Average hourly earnings,workweek unchanged

• US Sep Average Hourly Earnings (YoY) 2.9%, 3.2% forecast 3.2% previous

• US Sep Average Hourly Earnings (MoM) 0.0%, 0.3% forecast 0.4% previous   

• US Sep Average Weekly Hours 34.4, 34.4 forecast, 34.4previous                  

• US Exports 207.90B, 207.40B previous   

• US Sep Government Payrolls 22.0K, 46.0K previous        

• US Imports 262.80B, 261.40B previous                  
• US Sep Manufacturing Payrolls -2K, 4K forecast, 2K previous

• US Sep Nonfarm Payrolls 136K, 140K forecast 168K previous            

• US Sep Participation Rate 63.2%, 63.2% previous              

• US Sep Private Nonfarm Payrolls 114K, 133K forecast 122K previous

• US Aug Trade Balance -54.90B, -54.50B forecast, -54.00B previous            

• US Sep U6 Unemployment Rate 6.9%, 7.2% previous     

• US Sep Unemployment Rate 3.5%, 3.7% forecast 3.7% previous

• Canada Aug Exports 50.58B, 49.66B previous         

• Canada Aug Imports   51.54 B, 51.05B previous                      

• Canada Trade Balance -0.96B, -1.00B forecast, -1.38B previous      

• Russia CPI (YoY) 4.0%,4.3% previous

• Russia CPI (MoM) -0.2%,-0.2% previous                                                              
• Canada Sep Ivey PMI 48.7, 60.6   previous               

Looking Ahead - Economic Data (GMT)

No economic data

Looking Ahead - Economic Data (GMT)

No significant events

Currency Summaries

EUR/USD: The euro strengthened against the U.S. dollar on Friday, as U.S. jobs report failed to boost greenback. Data showed that U.S. nonfarm payrolls increased by 136,000 jobs last month. August data was revised to show 168,000 jobs created instead of the previously reported 130,000 positions. Economists polled had forecast payrolls would increase by 145,000 jobs in September. The euro was up 0.10 percent at $1.0969. Immediate resistance can be seen at 1.1000 (21 DMA), an upside break can trigger rise towards 1.1062 (50 DMA).On the downside, immediate support is seen at 1.0950 (5 DMA), a break below could take the pair towards 1.0900 (Psychological level).

GBP/USD: Britain's pound was little changed against  the dollar on Friday,  as concerns over whether Britain can agree a Brexit deal with the European Union at a summit later this month rattled investors. The British government on Wednesday proposed an all-island regulatory zone in Ireland to cover all goods, replacing the so-called backstop arrangement, and was waiting for an official response from its European counterparts. By 2105 GMT sterling was up 0.01% at $1.2330. Immediate resistance can be seen at 1.2356 (11 DMA), an upside break can trigger rise towards 1.2423 (100 DMA).On the downside, immediate support is seen at 1.2244 (50 DMA), a break below could take the pair towards 1.2200 (Psychological level).

USD/CAD: The Canadian dollar declined to hit 4-month week low against its U.S. counterpart on Friday, as oil prices rallied and domestic data showed the trade deficit narrowed in August. Canada posted a trade deficit of C$955 million in August after a revised C$1.4 billion deficit in July, as both imports and exports rose, Statistics Canada said. Export volumes were less encouraging, dipping 0.2%.The price of oil, one of Canada’s major exports, rose but remained on track for a second consecutive weekly loss after sliding on fears that slower global economic growth would hurt energy demand. At (2032 GMT), the Canadian dollar was trading 0.2% higher at 1.3314 to the greenback. Immediate resistance can be seen at 1.3359 (Higher BB), an upside break can trigger rise towards 1.3400 (Psychological level).On the downside, immediate support is seen at  1.3285 (5 DMA), a break below could take the pair towards 1.3244 (21 DMA).

USD/JPY: The dollar declined against Japanese yen on Friday, as downbeat US employment weighed on dollar. Nonfarm payrolls increased by 136,000 jobs last month, the government said. August data was revised to show 168,000 jobs created instead of the previously reported 130,000 positions. The data followed a string of weak economic reports earlier this week, including a plunge in manufacturing activity to a more than 10-year low in September and a sharp slowdown in services industry growth to levels last seen in 2016. At (20:32 GMT),the dollar was 0.01 lower versus the Japanese yen at 106.87. Strong resistance can be seen at 107.37 (5 DMA), an upside break can trigger rise towards 107.49 (11 DMA).On the downside, immediate support is seen at 106.53 (Daily Low), a break below could take the pair towards 106.00 (Psychological level).

Equities Recap

European shares ended a tumultuous week on a high note on Friday as data showing modest U.S. jobs growth lifted sentiment slightly, pushing a pan-region index to its best day in more than three weeks.

UK's benchmark FTSE 100 closed up 1.10 percent, Germany's Dax ended down by 0.73 percent, France’s CAC finished the day up  by 0.91 percent.

U.S. stocks rose on Friday as moderate jobs growth in September offered some relief from a spate of dismal economic data this week that has rankled markets and fueled concerns that the United States was sliding into a recession.

Dow Jones closed up by 1.42 percent, S&P 500 ended up by 1.42  percent, Nasdaq finished the day up by 1.40 percent.

Treasuries Recap

September’s moderate uptick in U.S. job growth drove the Treasury yield curve slightly flatter on Friday  , but the move was not big enough to reverse the fall in short-dated yields this week to two-year lows on evidence of a slowdown in the national manufacturing and services sectors.     

The benchmark 10-year yield was down 1.2 basis points to 1.524%, pushing down the spread between the two- and 10-year yields to 11.8 basis points. The spread - the traditional measure of the yield curve - was 14.2 basis points at last close, almost 10 basis points higher than where it began the week.

Commodities Recap

Gold prices rose for a fourth straight session on Friday, buoyed by safe-haven sentiment after weak U.S. data deepened concerns over economic growth.

Spot gold was up 0.3% at $1,508.64 an ounce at 0653 GMT, having climbed in the previous session to its highest since Sept. 25 at $1,518.50.U.S. gold futures were flat at $1,514.60.

Oil prices rose about 1% on Friday as an increase in U.S. jobs eased some financial market concerns that a slowing global economy could dent oil demand, but crude fell more than 5% on the week, its second consecutive weekly decline.

Brent crude   futures gained 66 cents, or 1.14%, to settle at $58.37 a barrel. West Texas Intermediate (WTI) crude  futures rose 36 cents, or 0.7%, to settle at $52.81 a barrel.

By Srikanth G
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