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The US dollar against the Turkish lira has stabilized within the same trading range it has been moving in for the past few weeks.

At the beginning of this week, the weakness of the Japanese yen prompted new verbal warnings.

In recent trading sessions, the GBP/USD exchange rate has fallen to its lowest level since mid-September at the 1.3070 support level after reports indicated that the US economy added 254,000 non-farm jobs in September, exceeding expectations of a reading of 147,000 jobs.

At the end of last week, the US dollar strengthened against other major currencies as the likelihood of a 50-basis point interest rate cut in November diminished.

At the beginning of this week, the price of gold retreated to below $2,642 per ounce, continuing its decline from record highs in the wake of indicators of a strong US Labor market, which reduced the likelihood of the Federal Reserve continuing to aggressively cut US interest rates.

For years, Chinese industrial orders helped create and support thousands of well-paid jobs in Germany. But the Asian giant's economic slowdown has led to lower demand for German goods and dampened growth prospects.

Chancellor Rachel Reeves will set out the government's financial plans for the next year.

The Euro has shown itself to be somewhat bullish during the trading session on Friday, and at this point in time it looks like we are simply going back and forth in the same range bound area that we had been in.

The NASDAQ 100 rallied a bit during the trading session on Friday as the markets continued to rock back and forth.

The Nikkei 225 rallied rather significantly during the course of the trading session on Friday, slamming into the 39,500 yen level, an area that has been important multiple times.

The USD/MXN has traded lower the past handful of days and has sustained lower near-term elements as today has started. However, traders need to be careful regarding the potential of reversals developing.

The USD/ZAR has traded higher in the past handful of days as a combination of risk adverse sentiment, U.S interest rates concerns, and domestic news effect financial institutions.

The West Texas Intermediate Crude Oil market has been very noisy, but mainly just to the upside.

Silver has been all over the place on Friday and that's not a huge surprise considering that the market has been very volatile to say the least.

The most obvious thing is that we have seen a turnaround in most indices, and the CAC 40 in Paris of course is no different.

I’ve noticed that the New Zealand dollar has fallen pretty significantly during the trading session on Friday.

It has become obvious that the gold market still has plenty of buyers underneath, and short-term pullbacks will more likely than not end up being a nice opportunity to get involved in what has been a very strong uptrend.

During the trading session on Friday, I noticed that the USD/CHF pair looks very strong, as we have broken above the crucial 0.8550 level.

The GBP/USD exchange rate drifted downwards after the US published strong jobs numbers on Friday.

The Euro plunged during the trading session on Friday after the jobs number in America came out much hotter than anticipated.

Bitcoin held steady on Monday morning as the recent consolidation continued.

The Australian dollar retreated for four consecutive days, erasing most of the gains made in September.

A resurgent US Dollar boosted by strong US jobs and earnings data last Friday is dragging the price down. The action looks quite heavy and suggests that an attempt will be made to break below the support level at $1.0947.

Friday Saw Strong US Jobs & Earnings Data, Boosting Greenback; US Treasury Yields Soar; Japanese Currency Ambassador Monitoring Market

Last week saw a huge rebound in the Forex market in favour of the US Dollar following very strong US jobs data, although some risky assets, notably stocks and precious metals, held up firmly against the greenback.

Nervousness is the pervading theme in the EUR/USD for the moment and the currency pair went into this weekend near the 1.09750 level.

WTI Crude Oil went into this weekend near its highs as speculative chatter about the conflict in the Middle East clearly drives nervous behavioral sentiment.

Get the weekly Forex forecast for major currency pairs for the week of October 7-12, 2024 here.