This is what you need to know to trade today Friday October 6:
The US dollar (USD) weakened against its main rivals for the second day in a row on Thursday before finding a foothold early on Friday. The Dollar Index remains stable around 106.50 during the European morning and the yield on the US 10-year Treasury bonds fluctuates around 4.75%, as markets await the September employment report, which will include Non-Payrolls Agricultural (NFP) and wage inflation figures.
Price of the US Dollar this week
The following table shows the percentage change of the United States Dollar (USD) against the main currencies quoted this week. The US dollar was the strongest currency against the Australian dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.27% | 0.18% | 1.08% | 1.21% | -0.40% | 0.71% | -0.15% | |
| EUR | -0.28% | -0.09% | 0.80% | 0.93% | -0.68% | 0.43% | -0.43% | |
| GBP | -0.18% | 0.10% | 0.89% | 1.03% | -0.58% | 0.52% | -0.34% | |
| CAD | -1.09% | -0.82% | -0.87% | 0.13% | -1.49% | -0.38% | -1.25% | |
| AUD | -1.23% | -0.95% | -1.04% | -0.13% | -1.62% | -0.51% | -1.39% | |
| JPY | 0.38% | 0.64% | 0.58% | 1.50% | 1.56% | 1.09% | 0.25% | |
| NZD | -0.71% | -0.43% | -0.52% | 0.38% | 0.51% | -1.10% | -0.86% | |
| CHF | 0.14% | 0.42% | 0.33% | 1.23% | 1.36% | -0.25% | 0.86% |
The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the euro in the left column and scroll down the horizontal line to the Japanese yen, the percentage change that appears in the box will represent EUR (base)/JPY (quote).
US Nonfarm Payrolls Forecast: September NFP Report Will Show Broadly Stable Labor Market
Wall Street’s main indices opened in the red on Thursday, but managed to erase most of the daily losses. Meanwhile, 10-year yields in the US continued to stretch lower and made it difficult for the dollar to rise. US stock index futures are trading slightly lower early on Friday, pointing to a cautious market stance. Markets expect an increase of 170,000 in US Nonfarm Payrolls for September and to see the unemployment rate declining to 3.7% from 3.8% in August. Meanwhile, the head of the International Monetary Fund (IMF), Kristalina Georgieva, noted that the current pace of global growth was “quite weak” and warned of significant risks on the fiscal front in many countries, due to the increasing burden of the debt on higher interest rates.
NFP Preview: Forecasts from Seven Big Banks
In its semi-annual Financial Stability Report (FSR), the Reserve Bank of Australia (RBA) said risks to global financial stability are high and increasing. After a two-day bounce, the pair AUD/USD It lost its bullish momentum and stabilized around 0.6350 on the last trading day of the week.
He USD/CAD It reached its highest level since March on Thursday, near 1.3800, before making a downward correction in the Asian session on Friday. Statistics Canada will also release labor market data for September later in the day.
He USD/JPY It closed in negative territory on Thursday, but regained traction and advanced to the 149.00 area on Friday. Japanese Finance Minister Shunichi Suzuki once again declined Thursday to comment on whether Japan intervened in the currency market earlier in the week.
He EUR/USD extended its bounce and closed in positive territory near 1.0550 on Thursday. However, the pair struggled to retain its recovery momentum and entered a consolidation phase.
He GBP/USD benefited from the broad USD weakness on Thursday and advanced towards 1.2200. Early on Friday, the pair fluctuates in a narrow channel above 1.2150 amid cautious markets.
The price of Gold It rose and fell in a tight range around $1,820 on Thursday. The US 10-year yield remains relatively calm on Friday, making it difficult for XAU/USD to gain directional momentum.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
