Risk appetite was hurt yesterday, following a report saying that China is doubting over whether a long-lasting trade deal with the US can be reached. That said, sentiment improved during the Asian trading today, after the rise in China’s Caixin manufacturing PMI for October. Now, the spotlight is likely to turn to the US employment report and the ISM manufacturing index, as investors try to figure out whether the Fed will cut rates again, despite signaling a halt on Wednesday.
China’s Doubts Dent Market Sentiment, US NFPs and ISM manuf. Enter the Spotlight
The dollar traded mixed against the other G10 currencies on Thursday and during the Asian morning Friday. It gained against AUD, NOK and SEK in that order, while it underperformed versus JPY, GBP, CHF, and NZD. The greenback was found virtually unchanged against EUR and CAD.
The strengthening of the yen and the weakening of the Aussie suggest that market sentiment was hurt, at least during the most part of the day. Indeed, major EU and US indices closed their...
Read the full financial markets daily report on JFD Research.