Article / 06 October 2017 at 11:10 GMT

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

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 

Hurricane
 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

Mid-session Europe: October 6, 2017

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