This is what you need to know to trade today Friday, December 3:
The US dollar DXY index it closed modestly higher for the second day in a row on Thursday and holds its ground early on Friday as investors brace for the November US jobs report. The investors expect NFP nonfarm payrolls to rise by 550,000 after the 531,000 increase seen in October. October retail sales data for the euro zone, Canadian employment figures and the US ISM services PMI survey will also appear on the economic calendar.
Risk money flows dominated financial markets on Thursday and the major Wall Street indices managed to post impressive gains. The US Senate has voted to pass the bill to avoid a government shutdown over the weekend. Meanwhile, Bloomberg reported that recent research in the UK found that most booster injections were capable of increasing antibodies against the Omicron variant. Additionally, GlaxoSmithKline said its COVID-19 antibody drug Sotrovimab was likely effective against the new variant.
US equity futures are stable at the start of the European session and the 10-year US Treasury yield is moving sideways near 1.44% after rising nearly 3% on Thursday. In an interview with the Financial Times, Cleveland Fed President Loretta Mester noted that the economy could better cope with new variants of coronavirus.
The EUR/USD it has fallen back to the 1.1300 region with the dollar retaining its strength ahead of the weekend.
The GBP/USD It managed to close in positive territory on Thursday but appears to be having a hard time pulling away from 1.3300 early on Friday.
The USD/JPY still advancing above 113.00 on improving market sentiment, but the pair’s rally remains limited with US bond yields losing traction.
The USD / CAD it falls to 1.2800 as crude prices rebound after a sharp drop seen following OPEC + ‘s decision to go ahead with its original plan to increase oil production by 400,000 barrels a day in January.
The price of oro It fell to its lowest level in a year at $ 1,761 on Thursday, but rallied above 1,770 in the early hours of Friday. The yellow metal continues to struggle to find demand when risk flows dominate financial markets.
Cryptocurrencies: The Bitcoin it is rising and falling within a narrow channel above $ 55,000. The Ethereum it closed the previous two trading days in negative territory and appears to have entered a consolidation phase around $ 4,500.
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