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Article / 06 October 2017 at 11:10 GMT

Mid-session Europe: Cable and gold slide as market eyes NFP

Global Sales Trading

Saxo Markets

Denmark

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

Many new US jobs were likely delayed after hurricanes Harvey and Irma lashed southern coasts.
Pic: Shutterstock

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.

Economic data of the day (GMT)

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.

Mid-session Europe: October 6, 2017

Download document

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