Previous Day's Market Highlights
Friday saw the release of the all-important Non-Farm Employment change for the United States. The figure came out at 250k, which is the largest job growth in the United States since March this year, also beating it’s forecast by over 50k. Average hourly earnings was also released as forecast, showing continued growth in pay for US citizens. Their neighbour, Canada also released their employment change figure, which showed that the unemployment rate had fallen to its lowest level since August this year.
Rumours in the papers on Sunday mentioned that Theresa May has secured concessions from the EU to keep the whole of Britain in a customs union. This seems to be very much behind closed doors with spokesman denying the ‘speculation’ nearly immediately. Sterling jumped at the open on Sunday evening, however it has tailed off since. There is a scheduled Cabinet meeting on Tuesday could bring about some more light to this story.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
Today's Market Highlights
This week we can look forward to the United States mid-term elections which will run from Tuesday 6th November with results expected throughout Wednesday, in which will prove President Trump's biggest test since taking office. The Republicans will be battling it out with the democrats for control of the House of Representatives and the Senate.
In terms of data today, we have Services PMI from the UK which is expecting to show growth for the UK's biggest sector in terms of GDP contribution. In the United States final Services PMI is expecting to remain level to the previous release, and non-manufacturing PMI due to show weaker growth this month.
Looking ahead to this week, the US Federal Reserve will take centre stage, although no policy changes are expected, the minutes should confirm the expected rate rise in December. Data-wise, the main highlight this week comes from the UK, posting their GDP for Q3 on Friday. The release is expected provide further evidence that the UK economy has regained momentum in recent months. As last week showed, sterling will remain sensitive to any Brexit headlines.
Today's Economic Calendar
|13:10||CAD||BoC Governor Poloz Speaks|
|14:45||USD||Final Services PMI||54.7||54.7|
|15:00||USD||ISM Non-Manufacturing PMI||59.5||61.6|