Market Roundup
• US Continuing Jobless Claims (Nov 8): 1,974K, 1,930K forecast, 1,916K previous
• US Continuing Jobless Claims (Nov 15): 1,974K, 1,946K previous
• US Initial Jobless Claims (Nov 15): 220K, 228K previous
• US Jobless Claims 4-Week Avg. (Nov 15): 224.25K, 227.25K previous
• US Average Hourly Earnings MoM (Sep): 0.2%, 0.3% forecast, 0.4% previous
• US Average Hourly Earnings YoY (Sep): 3.8%, 3.7% forecast, 3.8% previous
• US Average Weekly Hours (Sep): 34.2, 34.2 previous
• US Government Payrolls (Sep): 22.0K, -22.0K previous
• US Manufacturing Payrolls (Sep): -6K, -8K forecast, -15K previous
• US Nonfarm Payrolls (Sep): 119K, 53K forecast, -4K previous
• US Participation Rate (Sep): 62.4%, 62.3% previous
• US Philadelphia Fed Manufacturing Index (Nov): -1.7, 1.0 forecast, -12.8 previous
• US Philly Fed Business Conditions (Nov): 49.6, 36.2 previous
• US Philly Fed CAPEX Index (Nov): 26.70, 25.20 previous
• US Philly Fed Employment (Nov): 6.0, 4.6 previous
• US Philly Fed New Orders (Nov): -8.6, 18.2 previous
• US Philly Fed Prices Paid (Nov): 56.10, 49.20 previous
• US Private Nonfarm Payrolls (Sep): 97K, 62K forecast, 18K previous
• US U6 Unemployment Rate (Sep): 8.0%, 8.1% previous
• US Unemployment Rate (Sep): 4.4%, 4.3% forecast, 4.3% previous
•Canada IPPI YoY (Oct): 6.0%, 5.7% previous
•Canada IPPI MoM (Oct): 1.5%, 0.3% forecast, 1.0% previous
•Canada RMPI YoY (Oct): 5.8%, 8.4% previous
•Canada RMPI MoM (Oct): 1.6%, 0.6% forecast, 1.7% previous
• US Existing Home Sales MoM (Oct): 1.2%, 1.3% previous
Looking Ahead Economic Data (GMT)
•01:00 Japan Manufacturing & Services PMI (Nov) 51.50 previous
•01:00 Japan au Jibun Bank Manufacturing PMI (Nov) 48.2 previous
•01:00 Japan au Jibun Bank Services PMI (Nov) 53.1 previous
•02:00 New Zealand Credit Card Spending (YoY) (Oct) 0.2% previous
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Summaries
EUR/USD : The euro edged lower on Thursday as dollar gained as signs of faster U.S. job growth in September suggest the Federal Reserve is likely to pause cutting interest rates in December. Long-awaited data released on Thursday showed that employers added more jobs than economists had expected, but the unemployment rate rose.Nonfarm payrolls increased by 119,000 jobs in September. Economists polled by Reuters had forecast 50,000 jobs would be added. The unemployment rate rose to 4.4%, from 4.3% in August. The data was delayed because of a government shutdown. Euro was last down 0.06% at $1.1533, after hitting a two-week low.Immediate resistance can be seen at 1.1567(SMA20), an upside break can trigger rise towards 1.1667(38.2%fib).On the downside, immediate support is seen at 1.1499(50%fib), a break below could take the pair towards 1.1447(Lower BB).
GBP/USD: The pound edged higher from a two-week low against the dollar on Thursday as investors digested the previous day’s inflation data and positioned themselves ahead of Britain’s highly anticipated autumn budget. Scheduled for release on November 26, the annual budget is one of the most closely watched events of the year for investors.British finance minister Rachel Reeves is expected to secure tens of billions of pounds in additional revenue to keep her fiscal targets on track, while media reports last week suggesting she would avoid tax increases unsettled British markets.Data released on Wednesday showed that UK consumer price inflation eased to 3.6% in October, down from September’s 18-month high of 3.8%, in line with expectations from the Bank of England and economists. The report reassured markets, boosting confidence that the BoE may cut interest rates next month. Immediate resistance can be seen at 1.3198(38.2%fib), an upside break can trigger rise towards 1.3243(SMA 20).On the downside, immediate support is seen at 1.3000(Psychological level), a break below could take the pair towards 1.2977(Lower BB).
USD/CAD: The Canadian dollar declined on Thursday as greenback firmed as strong US jobs data dimed prospects for December Fed rate cut. U.S. job growth accelerated in September, but the unemployment rate increased to a four-year high of 4.4% and the economy in August shed jobs for the second time this year as employers navigate an uncertain environment. Domestic data had little impact. Canadian producer prices rose 1.5% in October from September on higher prices for primary non-ferrous metal products, as well as lumber and other sawmill products, while prices were up 6% year-over-year. Canadian retail sales data for September is due on Friday. Analysts expect sales to decline 0.7% after rising 1% in August. The loonie was trading 0.3% lower at 1.4095 per U.S. dollar. Immediate resistance can be seen at 1.4131(23.6%fib), an upside break can trigger rise towards 1.4163(Higher BB).On the downside, immediate support is seen at 1.4038(SMA 20), a break below could take the pair towards 1.3972 (38.2%fib).
USD/JPY: The U.S. dollar extended gains against the yen on Thursday as investors digested the September U.S. jobs report, which showed stronger-than-expected employment figures and dampened prospects for a December rate cut. Nonfarm payrolls increased by 119,000 jobs after a downwardly revised drop of 4,000 in August, the Labor Department's Bureau of Labor Statistics said. Economists polled by Reuters had forecast 50,000 jobs would be added after a previously reported gain of 22,000 in August. The survey of establishments also showed job growth in July was downgraded by 7,000 to 72,000 positions.The report was initially due on October 3, but was delayed by the shutdown of the federal government. The 43-day shutdown, the longest in U.S. history, forced the BLS to cancel the release of October's report as no data was collected for the household survey to calculate the unemployment rate for that month. Immediate resistance can be seen at 157.75(23.6%fib) an upside break can trigger rise towards 158.00 (Psychological level) .On the downside, immediate support is seen at 156.85 (Daily low) a break below could take the pair towards 155.34 (38.2%fib)
Equities Recap
European shares ended Thursday higher following strong results from AI leader Nvidia, which eased fears of an AI bubble, though gains were trimmed as uncertainty over U.S. monetary policy dampened investor sentiment.
UK's benchmark FTSE 100 closed up by 0.21 percent, Germany's Dax ended up by 0.50 percent, France’s CAC finished the day up by 0.34 percent.
Wall Street stocks moved higher on Thursday as investors digested a delayed employment report and quarterly results from Nvidia, which allayed fears of an artificial intelligence bubble.
Dow Jones closed down by 0.84 percent, S&P 500 closed down by 1.55 percent, Nasdaq settled down by 2.15 % percent.
Commodities Recap
Gold prices fell on Thursday as investors digested the September U.S. jobs report, which showed stronger-than-expected employment figures and dampened prospects for a December rate cut.
Spot gold fell 0.6% to $4,058.29 per ounce by 1:45 p.m. ET (1845 GMT). U.S. gold futures for December delivery settled 0.6% to $4,060 per ounce.
Oil prices declined on Thursday as the Trump administration urged Ukraine to accept a peace agreement with Russia, aiming to end a conflict that has persisted for over three years.
Brent crude futures settled at $63.38 a barrel, down 13 cents, or 0.2%. U.S. West Texas Intermediate crude futures finished at $59.14 a barrel, down 30 cents, or 0.5%.
