GBP weak, down 0.5% on broad labor market disappointment – Scotiabank
Source Fxstreet
The Pound Sterling (GBP) is weak, down 0.5% against the US Dollar (USD) and a mid-performer among the G10 in an environment of risk aversion and broad-based USD strength, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Pound sips on softer jobs data and narrowing yield spreads
"Domestic employment data were weaker than expected with softer wage growth and a lower than expected headline jobs gain. Yield spreads have narrowed modestly from their recent local highs, eroding some of the GBP’s fundamental support. short-term rates markets are still only pricing about 10bpts of tightening by December."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin Plunges Below $100,000: Market Panic Intensifies as Analysts Warn of Bear Market AheadBitcoin's price has plummeted beneath the $100,000 mark, reflecting increased caution in the market toward risk assets. With large investment funds and corporate treasuries pulling back, signs of a bear market are becoming apparent, leading analysts to note a significant decline in market sentiment. Concurrently, demand for protective options in the derivatives market has surged, indicating heightened investor fears about future price movements. Despite Bitcoin maintaining some gains since the beginning of the year, recent trends raise concerns, necessitating close attention to upcoming critical support levels.
Bitcoin's price has plummeted beneath the $100,000 mark, reflecting increased caution in the market toward risk assets. With large investment funds and corporate treasuries pulling back, signs of a bear market are becoming apparent, leading analysts to note a significant decline in market sentiment. Concurrently, demand for protective options in the derivatives market has surged, indicating heightened investor fears about future price movements. Despite Bitcoin maintaining some gains since the beginning of the year, recent trends raise concerns, necessitating close attention to upcoming critical support levels.
Yen Slips as Japan Embraces Low Rates; Aussie Rises on Job GainsThe yen weakens significantly against the euro and dollar after Japan's Prime Minister supports sustained low interest rates. In contrast, the Australian dollar gains strength following better-than-expected employment figures, reducing the likelihood of near-term rate cuts.
The yen weakens significantly against the euro and dollar after Japan's Prime Minister supports sustained low interest rates. In contrast, the Australian dollar gains strength following better-than-expected employment figures, reducing the likelihood of near-term rate cuts.
Samsung forecasts Q3 profit of 12.1 trillion won, boosted by strong AI chip demand.
The U.S. dollar remained steady on Tuesday following a shift in President Donald Trump’s harsh stance on tariffs against China.
Asian equity markets struggled to close the week on a weak note Friday, influenced by ongoing losses on Wall Street that extended into early Asian trading.
Related Instrument
