US Employment Data to Highlight Market Focus for NFP Report Next Friday

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ECONOMICS Nouvelles

US EMPLOYMENT,NFP REPORT,DOLLAR INDEX

US employment and labor data will take center stage as the market prepares for the upcoming US NFP net jobs additions report. The US Dollar Index (DXY) declined this week, breaking a near-term bull run and closing below 106.00. Despite this, the Greenback showed strong performance since September, climbing nearly 8%. Traders will review preview labor data before November's NFP jobs additions report, with the EUR/USD rising due to broader dollar weakness.

US employment and labor data will take center stage once again as markets wind themselves up to another monthly update to US NFP net jobs additions report next Friday. The US Dollar Index ended the week on the low side, declining 1.64% from Monday’s opening bids and wrapping up Friday below the 106.00 handle. The Dollar Index snapped a near-term bull run, closing in the red on a weekly basis for the first time in November.

Several spotlights on Chinese economic data could also drive the Aussie, with Chinese Caixin Manufacturing PMI data for November on Monday and the Services component expected on Tuesday. Events to note nextweek: Anticipated central banker appearances next week: Central banks FAQs What does a central bank do? Central Banks have a key mandate which is making sure that there is price stability in a country or region.

 

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