What you need to know on Wednesday, October 2
Publish Date : 2019/10/02 - 06:13

What you need to know on Wednesday, October 2:

Concerns about the health of the US economy weigh on the US dollar. US auto sales have slipped by 12%. Beside such data, there is weak ISM Manufacturing Purchasing Managers Index, reported a score of 47.8, the worst in 10 years.

EUR/USD escaped from two-year lows below 1.09 and AUD/USD recovered from ten-year troughs under 0.67.

The poor US data lowers expectations for Friday's Non-Farm Payrolls. Today's economy calendar includes in ADP jobs report.

UK PM Boris Johnson is set to lay out an ultimatum to the EU, reach an agreement by October 11, or the UK leaves without a deal. He is also offered a plan that includes a limited four-year backstop.

UK Manufacturing PMI beat expectations but remained below 50.

The Canadian dollar has stabilized after July's GDP disappointed with an increase of only 0.1%, but mostly due to a temporary shutdown of oil installations.

Cryptocurrencies have edged lower after gaining earlier this week.

Source: Fxstreet

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