The EUR/USD pair traded slightly lower at 1.1650 at the opening of the European session on Thursday (September 4th). The pair continues to search for direction, not far from the lower end of its trading range over the past few weeks, ahead of the Eurozone Retail Sales report. However, the main focus is on the US ADP Employment Change, due today, and, especially, the US Nonfarm Payrolls report on Friday.
On Wednesday, weak US JOLTS Job Openings data added to evidence of a weak labor market and raised expectations of an imminent Federal Reserve (Fed) interest rate cut. This view was confirmed by Fed speakers such as Governor Christopher Waller and Atlanta Fed President Raphael Bostic afterward.
Investor bets on the Fed's monetary easing at its upcoming September meeting jumped to 97%, from around 87% the previous day, alleviating concerns about surging fiscal debt in major global economies that had gripped markets earlier in the week. The 30-year US Treasury yield fell below 4.90% from Wednesday's high of 5%, while in Europe, the long-term German bond yield fell to 3.35% from a multi-year high of 3.43%.
However, market sentiment remains cautious. Today's focus is the US ADP Employment report, which is expected to show relatively low job creation ahead of Friday's Nonfarm Payrolls. The latter report may confirm a 25 basis point interest rate cut following the Federal Open Market Committee (FOMC) meeting on September 17. (alg)
Source: FXstreet
EUR/USD is steady late during the North American session as investors digest a soft jobs report and shrugs off the shutdown of the US government. The lack of an agreement between the White House and D...
EUR/USD holds firm on Tuesday during the North American session, although the Dollar weakens due to fears of a possible government shutdown that could disrupt the release of crucial jobs data for Fed ...
EUR/USD registers gains of over 0.20% on Monday amid worries of a possible government shutdown in the US, while data in the Eurozone, showed that sentiment improved but failed to propel the shared cur...
EUR/USD continued its rally for the second consecutive session, trading around 1.1720 during the Asian session on Monday. The pair strengthened as the US dollar (USD) weakened after the August US infl...
EUR/USD is posting moderate gains on Friday, trading near 1.1675 at the time of writing on Friday from 1.1645 daily lows, but remains on track for a 0.55% weekly decline. In the United States (US), a ...
The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its...
Federal Reserve (Fed) Bank of Dallas President Lorie Logan struck a nervous tone on Friday, warning that despite a rapidly-weakening labor market, a lot of potential policy moves could accidentally spark another round of renewed inflationary...
If it just seems like the first Friday of the month wasn't the same without being able to pore through the Bureau of Labor Statistics' hotly watched monthly jobs report, don't worry. You probably didn't miss much. While the BLS has gone dark with...
The bottom line: The release of official US data is delayed because the federal government is currently in shutdown. While the budget hasn't been...
European stocks extended gains on Friday, with the STOXX 50 up 0.4% and the STOXX 600 rising 0.3% to fresh record highs, as optimism around...
The business activity in the US service sector stagnated in September, with the Institute for Supply Management's (ISM) Services Purchasing Managers...
Asia-Pacific markets opened mostly higher Friday, tracking Wall Street gains as investors shrugged off the U.S. government shutdown.
Investors are...