The White House trade adviser Navarro has said that the US economy is strong and that the US will get a China deal or, that there will be no deal.
Earlier, he had a pop at the Democrats saying that they could very well be cheering for a coming economic downturn if it meant ridding the country of President Trump. He was referencing what Trump has called a “witch hunt”…or, what is an impeachment process. Mr. Navarro said it’s a “legitimate point” to say that the impeachment process is destabilizing markets, while also pointing a finger at “bad” policies from Federal Reserve Chairman Jerome Powell.
EUR/USD again aims for 1.0987 resistance-confluence while taking the bids to 1.0980 amid the initial trading session on Friday. 23.6% Fibonacci retracement, immediate support-line questions pair’s declines.
GBP/USD stays modestly changed after a positive day. Increasing support for the UK PM’s Brexit deal, challenges to the USD support the Cable. Eyes on the Brexit/political headlines, US data, and Fedspeak.
The USD/JPY pair extended losses and fell from 107.05 to 106.48 to mark a fresh one month low on ISM services. US stock markets recovered off their lows on Thursday – All eyes on US jobs data.
Having recovered from below a 50% mean reversion of the late June swing lows to recent highs around 1460/70, the price of Gold is turning heads again as the bulls seek out a run back towards the 1520 level.
NFP are predicted to rise by 145,000 in September following August’s 130,000 gain. The unemployment rate should be unchanged at 3.7%. Average hourly earnings will rise 0.3% on the month and 3.2% on the year as in Aug.
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