The USD is broadly softer as investors pivot from geopolitical tensions with Iran to the US Non-Farm Payrolls report. The GBP is a top G10 performer following UK local elections, while the CAD consolidates ahead of domestic jobs data.
Key Takeaways
- 1.The USD is softening as market focus shifts to the upcoming US Non-Farm Payrolls (NFP) report, reversing gains made during US-Iran conflict escalations.
- 2.GBP is outperforming G10 peers due to a relief rally following UK local elections and survivable losses for PM Starmer.
- 3.Canadian employment data is expected to show a 10k rise, but it is unlikely to shift the Bank of Canada's policy outlook.
Table of Contents
- Analyst Team
- Overview
- USD Broadly Softer Ahead of NFP
- USDCAD (1.3646)
- EURUSD (1.1764)
- GBPUSD (1.3604)
- USDJPY (156.78)
- TODAY'S CALENDAR
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Authors
Shaun OsborneEric Theoret
Securities
DXYUSDCADEURUSDGBPUSDUK 30Y GiltUSDJPY
Themes
Geopolitical TensionsLabor Market Data ReliancePost-Election Market Stability
Regions
North AmericaEuropeUKUnited StatesCanadaUnited Kingdom