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ForexLive European FX news wrap: Dollar slightly softer ahead of NFP

Started by forex4you, Sep 02, 2022, 03:58 pm

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ForexLive European FX news wrap: Dollar slightly softer ahead of NFP

<p>Headlines:</p><ul><li><a href="https://www.forexlive.com/news/welcome-to-jobs-day-in-the-us-20220902/">Welcome to jobs day in the US</a></li><li><a href="https://www.forexlive.com/news/usdjpy-bulls-locked-and-loaded-above-14000-20220902/">USD/JPY bulls locked and loaded above 140.00</a></li><li><a href="https://www.forexlive.com/news/pipeline-operator-data-suggests-nord-stream-flows-to-be-back-on-saturday-as-planned-20220902/">Pipeline operator data suggests Nord Stream flows to be back on Saturday as planned</a></li><li><a href="https://www.forexlive.com/news/eurozone-july-ppi-40-vs-37-mm-expected-20220902/">Eurozone July PPI +4.0% vs +3.7% m/m expected</a></li><li><a href="https://www.forexlive.com/news/germany-july-trade-balance-54-billion-vs-48-billion-expected-20220902/">Germany July trade balance €5.4 billion vs €4.8 billion expected</a></li></ul><p style="" class="text-align-justify">Markets:</p><ul><li>EUR leads, JPY lags on the day</li><li>European equities higher; S&P 500 futures flat</li><li>US 10-year yields flat at 3.263%</li><li>Gold up 0.6% to $1,706.13</li><li>WTI crude up 2.2% to $88.52</li><li>Bitcoin up 0.3% to $20,141</li></ul><p style="" class="text-align-justify">Markets are rather tepid as we count down to the US non-farm payrolls later in the day. That will set the tone before the long weekend, as we get another key data point before the FOMC meeting this month.</p><p style="" class="text-align-justify">The dollar is softer though with EUR/USD climbing back up to parity, up 0.6% on the day. There are large option expiries to be mindful about so be wary of that before they roll off later in the day.</p><p style="" class="text-align-justify">GBP/USD is also up slightly by 0.2% to 1.1570 but remains under threat for a break towards the March 2020 lows. Meanwhile, USD/JPY is staying perky above 140.00 as buyers are locked and loaded for the next upside leg - contingent on what the US jobs report has to offer later today.</p><p style="" class="text-align-justify">Equities are lacking direction but European indices are higher in playing catch up to the late comeback by Wall Street yesterday.</p><p style="" class="text-align-justify">It's all about the NFP now as we look towards the closing stages of the week.</p>

This article was written by Justin Low at www.forexlive.com.

Source: ForexLive European FX news wrap: Dollar slightly softer ahead of NFP

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