4 Global Market Updates- 7 October, 2022

 

In this article, we have covered the highlights of global market news about the USD/CAD, AUD/USD, EUR/USD and NZD/USD.

USD/CAD: Positive Canadian employment growth is unlikely to prevent a revisit of 1.3830 highs – ING

Canadian job statistics will be released, but according to analysts at ING, the consequences for the Bank of Canada (BoC) policy should be minimal. The risks are tilted to the upside since US Nonfarm Payrolls are expected to impact USD/CAD significantly.

“Governor of the Bank of Canada, Tiff Macklem, made some hawkish comments, claiming that the bank is not prepared for a more delicately balanced policy, that there is still much to be done to control inflation given lingering excess demand, and that most people are largely resigned to the possibility of a challenging economic recovery. In this regard, yesterday’s remarks could have served as a “hedge” against today’s probable release of more disappointing employment numbers.

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