Fundamental analysis GBPUSD, EURUSD, NZDUSD, AUDUSD, USDCAD, XAUUSD, Brent, WTI for 08.10.2021

Friday's key macroeconomic statistics disappointed investors. In September 194 K jobs were created in the US non-farm sector, which is significantly lower than the forecasted 500 K. At the same time the dollar losses were limited by the falling of unemployment rate from 5.2% to 4.8%.

EUR/USD appreciated slightly, repeating the pattern of the previous day. Today's German trade balance data limited the intraday potential of the trading instrument. German exports lost 1.2% of the volume, while imports rose 3.5%, which reduced the surplus by 2 billion euros.

The British pound showed minimal growth today. Publication of the Bank of England meeting minutes became the main catalyst of the pair's strengthening. GBP/USD could not overcome the key resistance of 1.3650 and continued to trade in the limited range of 1.3580-1.3650. Breakdown one of the levels will indicate the further dynamics of the pair.

AUD/USD and NZD/USD strengthened sharply after today's mixed release on the U.S. labor market, but the effect was short-lived as the country's unemployment rate fell, causing a subdued interest in high-risk assets. The Canadian dollar was among Friday's leaders on the back of positive labor market trends as 157.1 thousand jobs were created in Canada, almost twice the forecast. USD/CAD was additionally pressured by rising oil prices.

Brent and WTI are trading within an upward correction. The hydrocarbons market is getting support in the background of growing demand, which is caused by the global economic recovery, production cuts in the Gulf of Mexico, as well as the energy crisis in the euro area.

The XAU/USD reacted with a sharp gap immediately after the release of U.S. jobs data. However, market participants' surge of interest was limited to short-term speculative trading, which strengthened the dollar's status as the only "safe haven" asset in the current environment.