Happy Friday, readers. Hallam Bullock here, reporting from London.
There’s a key US jobs report dropping at 8:30 a.m. today. It may seem like nonfarm payrolls have been a B-list macro datapoint since the Consumer Price Index has taken the spotlight all year, but the September report is of particular importance.
The Fed will be watching very closely for signs the labor market, and thus the economy, is cooling off, feeding into its decision making over the path of rate hikes. Economists are expecting 250,000 new jobs added in September, which would be down from 315,000 in August.
While we wait for the jobs report, let’s turn our attention to the dollar, which according to UBS, isn’t done rising yet.
Let’s see what they have to say.
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