| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:30 | Switzerland | Consumer Price Index (MoM) | October | -0.3% | 0% | -0.1% |
| 07:30 | Switzerland | Consumer Price Index (YoY) | October | 0.8% | 0.8% | 0.6% |
| 09:30 | United Kingdom | Purchasing Manager Index Manufacturing | October | 51.5 | 50.3 | 49.9 |
USD appreciated against other major currencies in the European session on Friday as investors waited for the release of the U.S. key labour market report later in the day, which could influence markets’ expectations of the Federal Reserve’s interest rate cut path.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, rose 0.12% from the previous close to 104.10.
The Labor Department will publish its Employment Situation report for October at 12:30 GMT. Economists expect the report to show that the U.S. economy added around 113,000 new jobs last month, sharply down from 254,000 in September due in part to the impacts of two hurricanes as well as Boeing's strike. Meanwhile, the unemployment rate is anticipated to remain unchanged at 4.1% and the wage growth is seen to hold steady at 4.0% YoY.
Today’s report will follow the data, which showed that the U.S. central bank’s favoured inflation measure rose more than expected last month, slightly tempering markets' bets on a 25-basis-point rate cut at the next week’s meeting of the Fed. If data comes stronger than expected this would add to the argument of gradual monetary policy easing in the U.S.
In addition, investors braced for next week's presidential elections in the U.S. and the Fed’s policy meeting.