Today the First Round of Negotiations Between Washington and Beijing Will Start. Investors Assess the US Labor Market Report

The US dollar has become stable against a basket of major currencies. The dollar index (#DX) closed Friday’s trading session in the negative zone (-0.05%). The US has published rather weak labor market data for September. Thus, the number of people employed in the nonfarm sector of the country grew only by 136K, while experts forecasted an increase by 140K. Average hourly earnings (YoY) rose in September by 2.9% instead of 3.2%. However, the unemployment rate fell to 3.5% from 3.7%.

The trade conflict between the US and China has come to the fore again. Today, the first round of negotiations in Washington, which will last two days, will start. Most experts believe that the deal is hardly to be concluded. Investors also continue to monitor the situation concerning Brexit. Last week, British Prime Minister, Boris Johnson, submitted to the European Union the final proposal for the country's exit from the bloc. We recommend following current information on these issues.

The "black gold" prices continue to recover after a significant drop last week. At the moment, futures for the WTI crude oil are testing the $53.00 mark per barrel.

Market Indicators

On Friday, there was the bullish sentiment in the US stock markets: #SPY (+1.35%), #DIA (+1.39%), #QQQ (+1.47%).

The 10-year US government bonds yield is at the level of 1.52-1.53%.

The Economic News Feed for 07.10.2019:
  • Today, the publication of important economic news is not expected. We recommend paying attention to the speech by the Fed Chairman Powell.

by JustForex, 2019.10.07

We advise you to get acquainted with the daily forecasts for the major currency pairs.

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.

Open Account

Get Free Analytics

* required fields