Theresa May, the Dollar and the U.S. Jobs Report - This is What You Need to Know

The U.K. pound falls to a four week low amid speculation of a leadership challenge to Prime Minister Theresa May

Author:: Edward Hardy
Publish date:: Oct 6, 2017 3:34 AM EDT

This is what you need on Friday:

1. European stocks open higher again Friday as global equity markets ride a bullish wave from Wall Street this week powered by stronger-than-expected economic data and the hope of significant tax reform from U.S. lawmakers.

2. The U.K. pound falls to a four week low amid speculation of a leadership challenge to Prime Minister Theresa May.

3. The VIX volatility index closes at all-time low as U.S. stocks continue to hit record highs.

4. The dollar index, a measure of the greenback's strength against a basket of six global currencies, was up 0.1% at 94.05, the highest in seven weeks, after U.S. lawmakers in Congress passed a blueprint that pushed President Donald Trump's tax reform proposals further along the procedural road while the Senate Budget Committee approved a budget resolution that will be voted on by the House next week.

5. Analysts are looking for the U.S. economy to have added 90,000 jobs last month, a figure that falls far shy of the 2017 monthly average but is expected to be heavily-influenced by the damage brought by Hurricanes Harvey and Irma in Texas and Florida in the early part of the month.

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