News

Costco has grown its clothing business by nearly 40% over the past five years, which is more than its peers BJ’s and Sam’s Club.

There are now an estimated 241,700 individuals with crypto holdings worth $1 million or more, up 40% from last year, according to new data.

In the absence of the US federal government’s data releases due to the shutdown, the preliminary figures of its monthly Consumer Confidence Index, released by the University of Michigan (UoM), are expected to gain extraordinary relevance on Friday.

The Pound Sterling (GBP) strives to gain ground against the US Dollar (USD) during Friday’s European trading session after posting a fresh two-month low around 1.3280 earlier in the day.

The AUD/USD pair edges lower to near 0.6550 during the late European trading session on Friday. The Aussie pair faces a slight selling pressure as the US Dollar holds onto gains driven by recent political developments in Japan and France.

USD is expected to trade in a range between 7.1200 and 7.1550, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

Statistics Canada will release its Labour Force Survey on Friday, and markets are bracing for a mixed print. The Unemployment Rate is expected to tick higher to 7.2% in September, while the Employment Change is forecast to rise by 5K new workers after a huge loss in August.

The Japanese Yen (JPY) is up 0.2% against the US Dollar (USD) and outperforming all of the G10 currencies as we head into Friday’s NA session, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.

US Dollar (USD) is likely to trade in a range of 152.40/153.40. In the longer run, further USD strength is likely; the level to watch is 153.80, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

EUR/USD’s recovery is losing steam ahead of Friday’s US session opening. The pair is trading right above 1.1560 at the time of writing, down from session highs near 1.1590.