What you should know on Friday, January 10th is as follows:
The US Dollar (USD) remains strong against its main competitors on Friday morning in Europe after Thursday's lackluster financial market activity. The US Bureau of Labor Statistics will release the December jobs report, which includes data on wage inflation, the unemployment rate, and nonfarm payrolls (NFP), early in the American session.
As trading conditions remained light and US stock markets closed in observance of a national day of mourning to honor the death of former President Jimmy Carter, the USD Index saw modest gains on Thursday after closing in positive territory on Tuesday and Wednesday. The index continues to be in positive territory early Friday and is still within touching distance of the 25-month high it reached on January 2nd, at 109.53. After increasing by 227,000 in November, markets anticipate that NFP will increase by 160,000 in December. It is predicted that the unemployment rate will stay at 4.2%.
The USD/CAD exchange rate was last seen trading above 1.4400 on Thursday, closing slightly higher. On Friday, Statistics Canada will also release its December employment figures.
Although it did not recover on Thursday, the EUR/USD saw only modest losses. The pair trades below 1.0300 in the early hours of Friday while remaining under mild bearish pressure.
As the selloff in UK gilts continued, the GBP/USD fell below 1.2250 on Thursday, to its lowest level since November 2023. In the second half of the day, the pair was able to erase some of its daily losses as gilt yields corrected lower. The GBP/USD pair remains weak and trades lower than 1.2300 on Friday morning in Europe.
Thursday's USD/JPY close was slightly lower. On Friday, the pair remains comparatively quiet and moves within a small range above 158.00.
Gold ended Thursday's trading day in positive territory for the third day in a row. As the European morning progresses, XAU/USD is trading above $2,670, its highest level in almost a month.
The US Dollar (USD) remains strong against its main competitors on Friday morning in Europe after Thursday's lackluster financial market activity. The US Bureau of Labor Statistics will release the December jobs report, which includes data on wage inflation, the unemployment rate, and nonfarm payrolls (NFP), early in the American session.
As trading conditions remained light and US stock markets closed in observance of a national day of mourning to honor the death of former President Jimmy Carter, the USD Index saw modest gains on Thursday after closing in positive territory on Tuesday and Wednesday. The index continues to be in positive territory early Friday and is still within touching distance of the 25-month high it reached on January 2nd, at 109.53. After increasing by 227,000 in November, markets anticipate that NFP will increase by 160,000 in December. It is predicted that the unemployment rate will stay at 4.2%.
The USD/CAD exchange rate was last seen trading above 1.4400 on Thursday, closing slightly higher. On Friday, Statistics Canada will also release its December employment figures.
Although it did not recover on Thursday, the EUR/USD saw only modest losses. The pair trades below 1.0300 in the early hours of Friday while remaining under mild bearish pressure.
As the selloff in UK gilts continued, the GBP/USD fell below 1.2250 on Thursday, to its lowest level since November 2023. In the second half of the day, the pair was able to erase some of its daily losses as gilt yields corrected lower. The GBP/USD pair remains weak and trades lower than 1.2300 on Friday morning in Europe.
Thursday's USD/JPY close was slightly lower. On Friday, the pair remains comparatively quiet and moves within a small range above 158.00.
Gold ended Thursday's trading day in positive territory for the third day in a row. As the European morning progresses, XAU/USD is trading above $2,670, its highest level in almost a month.
