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The DXY dollar index (the dollar's exchange rate against a basket of major currencies) headed toward the 101.00 area on Wednesday, November 4 - a five-week low - losing about 0.5% and falling below 101.50. On Thursday, two catalysts for movement hit the market at once: US labor market statistics and the Bank of England meeting.
The ADP employment report for October was released on November 4 at 16:15 MSK: +86K private sector jobs versus the expected +69K and +90K the month before.
Today ADP Research Institute publishes its report on private sector employment in the US for October. The consensus is +69 thousand jobs after +90 thousand in September. This is the first labor market figure this week, followed by NFP on Friday.
Friday's session was the worst for the Nasdaq since the start of June: the index lost 2.86%, the S&P 500 - 1.82%. This week the market goes through US elections, earnings reports from major technology companies and employment data all at once.
The US Department of Labor reported: for the week ending October 17, initial jobless claims totaled 194K versus the expected 200K. This is one of the lowest levels in recent months, and the dollar immediately recovered part of its recent decline.
Today, October 8, from 14:30 to 15:30 MSK, three important macro events come out in a row: the ECB protocols, a speech by Bank of England Governor Andrew Bailey and weekly US jobless claims. In one hour-long window, the euro, pound and dollar will be under reaction.
On the night of October 5, Bitcoin rose to $86,972, but again failed to consolidate above and returned below $86,000. This is already the second failed attempt to break through the $87,000 zone in a week.
XAU/USD rose to $4,227 on Friday but failed to consolidate above $4,200 and pulled back to $4,138. That is about a 1% decline for the day, despite a weak US labor market report.
On Friday, October 2, at 15:30 Moscow time, the US employment report is released. This week this is the main macro event: the bond market has already repriced levels, and the Fed raised rates for the first time in more than three years. The Employment Situation release is indeed scheduled for October 2 at 08:30 ET, that is, 15:30 Moscow time.
