Here is what you need to know on Friday, November 1: The US Dollar stays resilient against its rivals early Friday, with the USD Index holding steady near 104.00 following a three-day slide. The US Bureau of Labor Statistics will publish the labor market report for October, which will include Nonfarm Payrolls, Unemployment Rate and wage inflation figures. Later in the day, the US economic calendar will also feature ISM Manufacturing PMI data for October.
0900 in the European morning. GBP/USD failed to benefit from the persistent USD weakness and fell to its lowest level since mid-August below 1.2850 on Thursday. Although the pair managed to erase a small portion of its daily losses, it lost its traction after testing 1.2900. At the time of press, GBP/USD was moving up and down in a narrow band near 1.2890. Gold made a deep correction from the record-high it set at $2,790 and lost more than 1.5% on Thursday.
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