Forex Today: hopes persisted, dollar surged ahead of NFP
|Here is what you need to know on Friday, September 6th:
- Risk appetite dominated the first half of the day, on news that the US and China will resume trade talks early October, after some phone calls between trade representatives from both countries. High yielding rallies in detriment of safe-haven gold and yen.
- The Pound outperformed its major rivals, extending its rally as chances of a hard-Brexit continued diluting. The UK Parliament keeps running against the clock to block a no-deal Brexit and extending it for three months while dismissing Johnson’s motion to call for a general election. Jo Johnson, the PM brother, resigned from government and parliament, claiming to be “torn between family loyalty and the national interest.”
- The dollar recovered on a much better-than-anticipated ISM Non-Manufacturing PMI. However, the employment sub-component declined, adding to hints toward a disappointing NFP report this Friday.
- The USD/JPY pair surged to a 5-week high of 107.22 on the back a better market mood, holds on to gains around 107.00.
- US oil inventories slid, giving a temporary boost to crude oil prices, also backed by US-China news. The commodity, however, retreated ahead of the close.
- US indexes soared, closing at their highest levels in a month.
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