UK Job report highlights solid wage growth and tight labour market
French Industrial Production disappoint estimates
Trump fires US National Security Ad visor Bolton
Traders remain on hold awaiting Thursday ECB Monetary Policy Meeting and Friday US Retail Sales data, which anticipated next week FED Interest Rate decision. Therefore, time to get your head down to work and start planning ahead for what will be a very interesting end of the week. Nothing to note in terms of market movement today as most of the USD FX pairs remain range-bound. GBP, in particular, remains below 1.2400 despite the encouraging numbers from the latest July job report highlighting wage growth at 4.0% vs the estimated 3.7% and Unemployment at record lows at 3.8% against the expected 3.9%. Equities remain on hold, with SP500 trading just shy of the 3000 marks. Looking at the commodity complex Gold slides for the fifth consecutive day retesting the 1500 level to the downside amid profit-taking. Crude Oil interestingly dropped, after Trump fired its National Security Adviser John Bolton, as with him leaving the odds of an escalation in Iran tensions decrease.
If you missed the morning briefing from the desk click HERE