US Labour Market Report Is in the Spotlight

Yesterday USD weakened against the basket of major currencies. The USD index (#DX) closed in the red (-0.25%). The investors are waiting for the release of the US Labour Market reports for November. The preliminary data by ADP are remarkably weak. The number of the new industrial workers lowered to 179K vs. the expected 196K, while the previous data was corrected from 227K to 225K. At the same time, the Non-Industrial PMI by ISM grew to 60.7 instead of 59.2.

CAD keeps losing positions against the USD due to weak economic reports. The trading balance is -1.17B instead of the expected -0.7B. The PMI by Ivey lowered to 57.2 instead of 60.3. Canada will publish its Labour Market reports today.

Prices on oil keep decreasing. The WTI futures are close to 51 USD/barrel. At 20:00 (GMT+2) Baker Hughes will publish the reports on the oil rigs in the US.

Market Indicators

Yesterday the US stock market showed a variety of trends: #SPY (-0,15%), #DIA (-0,40%), #QQQ (+0,71%).

The 10-year US government bonds yield keeps lowering. Right now it is at 2.87-2.88%.

The Economic News Feed for 07.12.2018:
  • - GDP Report (EU) – 12:00 (GMT+2:00);
  • - Labour Markets Reports (US) – 15:30 (GMT+2:00);
  • - Labour Markets (Canada) – 15:30 (GMT+2:00).

by JustForex, 2018.12.07

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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