STERLING HIT HARD BY NEGATIVE GROWTH DATA
There was little important economic data released, except for UK GDP growth data.
Official data showed the UK economy contracted by -0.1% in October, worse than the expected +0.1%.
The UK economy also shrank by -0.1% in September.
The negative data caused the pound to fall by 0.45%, dropping to 126.23 points.
US NONFARM PAYROLLS RISE BY 143,000 IN JANUARY, BELOW EXPECTATIONS US Nonfarm Payrolls increased by 143,000 in January, below the 170,000 forecast. December’s NFP was revised up to 307,000 from 256,000. The Unemployment Rate dropped to 4% from 4.1%. The Labor Force Participation
GOLD FOCUSES ON RECORD HIGHS AND US NONFARM PAYROLLS Gold price is going up again after a short break. It is reaching new record highs. Investors are careful before important US job data (Nonfarm Payrolls) is released.
GOLD PRICES RISE AHEAD OF US NONFARM PAYROLLS DATA Gold prices climbed in Asian and European trading, staying near record levels. Safe-haven demand increased due to U.S.-China trade tensions and fears of renewed Middle East conflict. A weaker US dollar also supported gold's rise. Gold is
USD/JPY HOLDS BOUNCE, BUT UNCERTAINTY REMAINS USD/JPY rises 0.4%, trading near 152.00 after touching a low of 150.95 earlier. The dollar shows limited strength against other major currencies. Yen pairs are the only significant movers in European trading, with eyes on the US jobs report.