Major Currencies Are Consolidating

At the moment, the technical pattern on the main currency pairs is ambiguous. Investors took a wait-and-see attitude before the publication of the report on the US labor market on Friday, October 06. The preliminary statistics turned out to be quite optimistic, which supports the demand for the American currency. According to the ADP, in September, 135,000 jobs were created in the non-agricultural sector of the United States. Market expectations were at 125,000. Business activity in the US non-manufacturing sector increased from 55.3 to 59.8. Experts expected the growth of the indicator to 55.5.

The Australian dollar is under pressure due to disappointing data. The Australian Bureau of Statistics reported that in August, retail sales in the country fell by 0.6%. Experts expected the growth of the index by 0.3%.

The bearish sentiment still prevails in the oil market. During yesterday's trading, futures for WTI crude oil fell by more than 1%. Currently, the quotes are being traded below $50 per barrel.

Market Indicators

The major US stock index closed in the positive zone: #SPY (+0.12%), #DIA (+0.08%), #QQQ (+0.10%).

The 10-year US government bonds yield has begun to recover. At the moment the indicator is at the level of 2.33-2.34%.

The dollar index (#DX) closed the trading session in the minus column (0.11%).

- Publication of the minutes of the ECB meeting on monetary policy at 14:30 (GMT+3:00);
- The number of initial applications for unemployment benefits in the US at 15:30 (GMT+3:00);
- The balance of trade in the US at 15:30 (GMT+3:00).

We recommend you to pay attention to the speeches of the FOMC representatives.

China's financial markets will be closed due to the holiday.

by JMarkets, 2017.10.05

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.