The US dollar is trading lower as the latest jobs report showed employers adding 156,000 jobs in September — well below analyst expectations of around 170,000 new jobs. Wage growth, participation rate, and other labor metrics out this morning came mostly in line with consensus estimates, perhaps breaking some of the dollar’s fall.
The pound is suffering heavy losses with investors not entirely sure of the exact cause, though uncertainty over next year’s hard Brexit plans have been largely to blame for the currency’s losses this week. While UK housing prices grew as much as expected in September, disappointing manufacturing/industrial production, and trade balance data for August are putting more downward pressure on sterling.
The euro is trading slightly higher against the falling US dollar with stronger-than-expected industrial production results out of germany and upbeat trade balance numbers from Italy. The results continue to reflect a resilient Eurozone, and is supporting the shared currency.
The Australian dollar is up after last night’s optimistic construction sector forecast, which was expected to show pessimism from the construction companies. The Canadian dollar is up slightly at the moment as oil prices inch above $51 per barrel. The Japanese yen is rebounding against the US dollar since this morning’s disappointing US jobs report.
EURUSD: The euro is up against a weaker US dollar with positive industrial output and trade balance numbers from Germany and Italy, respectively.
GBPUSD: The pound is falling sharply due to reasons related to the uncertainty around next year’s hard Brexit plans.
AUDUSD: The Aussie dollar is up after last night’s optimistic construction sector forecasts.
USDCAD: The Canadian dollar is slightly up as oil prices steadily rise.