What you need to know on Friday, September 6
Publish Date : 2019/09/06 - 07:51

What you need to know on Friday, September 6:

The market mood remains positive in the wake of the news that the US and China will resume trade talks. Higher US generates support the dollar against the euro, yen, and gold, while commodity currencies are rising.

Yields are also up after upbeat US data and ISM's Purchasing Managers' Index for the services sector beat expectations with 56.4.

US Non-Farm Payrolls figures for August stand out today. They are expected to rise by 158K. Wage growth is projected to slowdown from 3.2% to 3.1%.

Jerome Powell, Chair of the US Federal Reserve, will speak in Zurich late in the day and will have the opportunity to respond to the jobs figures.

Canada is expected to report an increase in jobs in August after losing positions in July. The unemployment rate is set to remain unchanged at 5.7%.

GBP/USD is holding onto its gains as the chances of a hard Brexit fade. Opposition parties are eyeing October 29 as the potential election date.

Cryptocurrencies have stabilized on higher ground, with Bitcoin shy of $11,000.

Source: Fxstreet

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