- US labour data misses expectations but still viewed as positive
- Trump appears on the ropes
- Euro sentix investor confidence to come
U.S. stocks fell on Friday to close the week lower following a report on U.S. employment that came in below expectations. However, it was viewed as strong enough for the Federal Reserve to consider raising interest rates by the end of the year. The U.S. economy added 156,000 jobs last month, while the unemployment rate dropped to 5% as more workers entered the labor market.
The weekend also saw many senior Republicans withdraw their support for US presidential candidate Trump after his controversial remarks about women became public. He has been under pressure after a tape from 2005 of him bragging about groping and kissing women was broadcast. Now at least a dozen leading Republicans have said they will not be voting for him, since the comments emerged on Friday. The latest to withdraw their support is former Republican presidential candidate John McCain.
Over the weekend we also saw US Federal Reserve vice-chair Stanley Fischer speaking. He noted that the September rate hold didn't reflect a lack of confidence in the economy and that the Fed chose to wait for more signals of progress before raising rates. Recent jobs data had been positive and that the US was close to full employment. This is all positive for the dollar and similar to the party line from most Fed officials.
Looking forward to today we have Eurozone Sentix investor confidence this morning 9.30 GMT for October and New Zealand retail sales later this evening.
Minutes on Wednesday from the last Federal Reserve meeting are likely to dominate headlines this week.
The past, the present and the future were having an arguement. It was tense.
Velcro - what a rip-off.
Room service? Send up a larger room.
Today's Major Economic Releases
||EU: Sentix investor confidence
||New Zealand: Retail sales month-on-month
Daily Currency Analysis by William Busby
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