A weak non-farm payroll softened the USD slightly but did little to impact December Interest rate hike chances. Labour statistics in September showed +156k new jobs were created with an unemployment rate at 5%. Governor Fischer, vice chairmen of the Fed, defended the decision not to raise rates last month and spoke confidently towards a raise in December.
The market has begun to price in a Hilary Clinton victory at the second presidential debate in the following hours. The Mexican Peso has been the main mover as risk of a Trump presidency falls away.
A weekend interview with Australian Treasurer Morrison was highlighted by his opposition towards the RBA cutting rates further saying “monetary policy has exhausted its effectiveness” and instead the government will focus on “boosting incomes and living standards”.
GBP/USD has settled down but is still below 1.2500 at 1.2400 since the market crash to 1.1800 on Friday and investigations as to the exact cause are continuing.
