The United States raised Non-farm payrolls by 250 thousand in October of 2018, after a downwardly revised 118 thousand in September and much higher market expectations of 190 thousand. Job increases happened in in manufacturing, health care, transportation in construction, and warehousing. The latest announcements about the continuing US-China trade resolve strengthened the appetite for the risk assets in the Asian trading session on Friday giving the Asian assets energy to reach the top and the greenback broadly below. As a consequence, FX last Friday helped the risk-on market action, with the AUD coming back to the 0.7248 area as the Kiwi bounces quickly to test the 0.66 level. On the other hand, Yen the traditional safe-haven currency went into new offers that pushed the USD/JPY back onto the 113 level while the Treasury yields picked up bids, surging nearly 1% across the curve.
Focus on the U.S. congressional elections
Weekly Report - 05/11/2018