It's an earlier than usual finish for me today, so I'll leave you with the Newsquawk US Market Open Preview and wish you all an amazing weekend.
Summary
European bourses are modestly on the backfoot, though have trimmed this slightly as the session progresses, in limited newsflow pre-NFP.
Stateside, futures are similarly contained and lie either side of the unchanged mark with NQ -0.1% modestly lagging amid yield upside
Typically tense pre-NFP trade has seen the DXY briefly dip below 112.00, to a 111.94 low, before regathering itself and holding marginally above the figure.
Core benchmarks dipped to lows amid the morning's German data release, with Import Prices lifting again, though have gained some poise since in quiet trade.
WTI and Brent are off highs but still holding onto gains of around USD 0.50/bbl and are at the top-end of the week’s USD 86.35/bbl – 95.00/bbl parameter in Brent Dec’22.
Fed's Mester (2022/2024) and Waller (voter) spoke overnight and added to the pivot-pushback
Looking ahead, highlights include US & Canadian jobs reports, BoE's Ramsden, Fed's Williams, Kashkari, Bostic
- BoE will consider whether market assessment of UK economic policy has changed
- BofA Flow Show: Bull & Bear indicator remains at 0.0 (Extreme Bearish)
- The @NatGasWeather/@andrepaltry NatGasWeather Daily Report
- Euro zone demand surge playing increasing role in excessive inflation: ECB
- The @Newsquawk NFP Preview: Looking for 250k payroll additions (vs 315k in August)
- Japan Currency Diplomat: Never Felt A Limit To Ammunition For Currency Intervention
- Italy retail sales fall 0.4% m/m in August
- French Trade Balance: -15.30B (Forecast -14.425B, Previous -14.54B)
- UK Halifax House Prices MoM: -0.1% (Previous 0.4%)
- German Real Retail Sales MoM: -1.3% (Forecast -1.2%, Previous 1.9%)
- German Industrial Production MoM: -0.8% (Forecast -0.5%, Previous -0.3%)
- The @Newsquawk Market Open: Sentiment sullied as Fed officials push back on incoming pivot
- Swiss Unemployment Rate Adjusted: 2.1% (Forecast 2.1%, Previous 2.1%)
