00:00 G20 G20 Meetings
05:00 Japan Leading Economic Index July 107.2 107.9 107.8
05:00 Japan Coincident Index July 105. 106.9 106.4
05:00 Japan BoJ monthly economic report September
The dollar was set for a second weekly advance against the euro as 10-year Treasury yields reached 3 percent for the first time since 2011 before data forecast to show U.S. employers added jobs at a faster pace. U.S. Labor Department data will probably show today nonfarm payrolls rose by 180,000 in August, up from an increase of 162,000 in July, according to the median forecast of economists surveyed by Bloomberg News. The unemployment rate is estimated to have held at 7.4 percent, the lowest since December 2008.
Government figures showed yesterday jobless claims in the U.S. fell by 9,000 to 323,000 in the week ended Aug. 31, less than the lowest estimate of economists surveyed by Bloomberg.
The euro fell for a second day versus the yen before figures that will probably show industrial production slowed in Germany and Spain. Industrial production in Germany, the euro region’s biggest economy, expanded 0.9 percent in July from a year earlier, compared with a 2 percent increase the prior month, economists forecast before the release of the government data today. A separate report from Spain is projected to show factory output declined 1.3 percent the same month.
Japan’s currency rallied against the dollar, halting a four-day slide that was the longest losing streak in two months, as stocks declined.
EUR / USD: during the Asian session the pair rose to $ 1.3135
GBP / USD: during the Asian session, the pair rose to $ 1.5615
USD / JPY: during the Asian session the pair fell to Y99.70
Friday sees another busy calendar on both sides of the Atlantic, with the US employment report undoubtedly the stand-out. The calendar gets underway at 0600GMT, with the release of the German second quarter labour costs data and the July trade data. French data is due at 0645GMT, with the expected release of the July foreign trade numbers and the August consumer confidence data. Spanish data will be released at 0700GMT, when the July industrial output numbers will be published. Switzerland's August CPI data will be released at 0715GMT. The G20 meeting continues in St Petersburg, Russia, with Syria likely to continue dominating the headlines. Further German data is expected at 1000GMT, when the July industrial output numbers will be published.
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