Today, the spotlight will fall on the US employment report for November, as investors try to figure out whether the Fed will cut interest rates further in the months to come, despite the Committee’s signals at the latest meeting that it would take the sidelines. Focus will also be on the formal announcement of the OPEC’s decision on oil output, with yesterday’s headlines suggesting a 500k production cut. Canada’s jobs data are also on today’s agenda.
Investors Lock Gaze on the US Employment Report
The dollar continued trading lower against all but one of the other G10 currencies on Thursday and during the Asian morning Friday. It underperformed the most against GBP, NZD, and NOK in that order, while it lost the least ground versus CHF and AUD. The greenback was fractionally higher only against CAD.
In the equity world, most major EU indices closed in negative territory, with the UK’s FTSE 100 on the top of the list, perhaps due to the extended rally in the pound on...
Read the full financial markets daily report on JFD Research.