Morning Preview: US Jobs Are Now Front and Center

Morning Fellas,To say it was a wild trading session might be an understatement. Everyone was watching the BOE for their rate rise and that

Written by: Dime Levov • Thursday, November 2, 2017 • 1 min read

• Last updated: Thursday, November 2, 2017

Morning Fellas,

To say it was a wild trading session might be an understatement. Everyone was watching the BOE for their rate rise and that played out as expected. However, the dovish comments that came along with them weren’t all that expected.

The BOE are looking at ‘gently’ raising rates, which the market didn’t seem to like much. As a result, the GBP fell and the chart looked a lot like they didn’t hike at all.

At the same time US President Trump has announced, Jerome Powell to take control of the Federal Reserve. Shain has more about the story here.

The US dollar was a little weaker against the majors (except the GBP), however, it’s still in that same band that it’s been trading in recently. I’m still bullish on the USD and expect it to break out above 95.00.

Tonights US jobs number will be critical. If we get a good number, chances of a rate rise increase and that means the USD will strengthen. It’s an important number given the Fed want to hike in December.

DXY