4 Global Market Updates- 8 October, 2022

 

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

GBP/USD on the verge of crashing, sights on 1.1000

GBP/USD fell to an intraday low of 1.1089 as the American dollar strengthened after the US monthly employment data release. The nation generated 265K new positions in September, above estimates, while the unemployment rate unexpectedly fell to 3.5%, according to the Bureau of Labor Statistics. The sector’s resilience made it possible for the US Federal Reserve to maintain its record rate hike pace of 75 basis points at each meeting.

After Wall Street opened, the dollar’s rise stalled as equities held onto their opening-day losses without deepening their declines. Major pairings have recently rebounded due to some profit-taking before the weekend, but GBP/USD is not one of them; it is now struggling to maintain the 1.1100 level.

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