#OPINIONLEADER#
Morning market update 05 11 2021:
The GBP saw heavy selling with an adjustment to the MPC vote to hike reducing by 1 as the unchanged vote was instead chosen a step back in expectations catching the market by surprise with the dovish change. In the US the Initial Jobless Claims came out better than expected and in the lead up to tonight’s NFP the DXY is trading at just above 94.30. Additionally for the US Nonfarm Productivity (QoQ) (Q3) missed expectations at -5.0% and Unit Labor Costs (QoQ) (Q3) beat expectations at 8.3%. On watch for today will be the NFP figure of 450k expected and the average hourly earnings (MoM) (Oct) with 0.4% both released at 20:30 GMT+8 tonight.
- 00:05:51
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