Mid-session Europe: Cable and gold slide as market eyes NFP
- Poor NFP numbers expected because of hurricanes
- Upside surprise on payrolls could boost USD
- Dax and FTSE gain but IBEX slipping again
- GBPUSD down amid political uncertainty in the UK
- GBP heading for third straight lower weekly close
- Gold on track for fourth consecutive weekly loss
- Oil trading largely unchanged on Friday
By the Global Sales Trading Team
- German manufacturing orders shown significant M/M jump, total orders + 3.6% vs +0.9% expected.
- European stocks logging minor profit-taking ahead of key data of the day.
- Markets await nonfarm payrolls release at 14:30 GMT with expectations lower than usual because of the hurricanes in previous weeks .
- IBEX resumed the sell-off on Catalan story continued the development.
- US Non-Farm Payrolls (14:30)
- CA Jobless Rate (14:30)
Please click on the attached PDF for the Saxo Bank Global Sales Team's overview of the mid-session movements seen in forex, equity, FX option, commodity, and bond markets.