investingLive European FX news wrap: Awaiting the NFP report ...Middle East

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What is the distribution of forecasts for the US NFP?Today's NFP setup is diametrically opposite to the one we had in AugustEurozone Q2 final GDP +0.1% vs +0.1% q/q expectedItaly July retail sales +0.0% vs +0.4% expectedSwitzerland consumer confidence -39.9 vs -36.5 expectedFrance July trade balance -€5.56 billion vs -€6.1 billion expectedPutin on Ukraine: There are legal obstacles in Ukraine for potential deal on territoriesGermany July industrial orders -2.9% vs +0.5% m/m expectedUK July retail sales +0.6% vs +0.2% m/m expectedJapan July leading economic index 105.9 vs 105.9 expectedWhat are the main events for today?

On the markets side, we basically extended the dovish positioning into the NFP that started yesterday after all the US data releases. The market looks confident that we will get another cool report.

Interestingly, to a question on the NFP report, Trump yesterday told reporters: “They come out tomorrow, but the real numbers that I’m talking about are going to be whatever it is, but will be in a year from now on". People speculated again that the numbers might be lacklustre. This might be another reason for the dovish moves we've seen throughout the session.

Have a nice weekend all!

This article was written by Giuseppe Dellamotta at investinglive.com.

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