All eyes are on the US non-farm payrolls report Today's European session was devoid of important data, with a few low-key data releases.
All eyes will be on the main event, the US non-farm payrolls report, and after the US jobs report, we will also have a date with a talk from Fed member Williams yet.
The jobs data will be released at 3:30 pm Egypt time, and the US non-farm payrolls report is expected to show the addition of 140 thousand jobs in September compared to 142 thousand jobs in August, and the unemployment rate will remain unchanged at 4.2%.
It is expected that the average hourly wage on an annual basis will reach 3.8% compared to 3.8% previously, while the figure on a monthly basis will decline from 0.4% to 0.3%.
Markets are currently pricing in a 35% chance of another 50 basis point cut in November, up from more than 50% at the start of this week.
The jobs report will determine the expectations of the markets more, if the report is negative, the reduction rate will increase by 50%, and the opposite will be true if the labor market report comes better than expected, we expect the next reduction by 25 basis points to become the most likely step.
