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Canadian jobs in the spotlight today too-check out the USD/CAD
The November US monthly jobs report is not the only jobs data due for release today. Also out at 1.30pm GMT we will get the same from Canada. The markets are expecting a slight rise in the underlying rate of unemployment, to 6.6% from 6.5% Payrolls are forecast to rise by around 25k, up from the previous monthly gain of 14.5k. The problem for anyone trading the USD/CAD on the release, is the fact that the US data will break simultaneously and that can make the price action in the USD/CAD rapid and confused. It is also hard to know immediately, which data will eclipse the other, unless it is sharp and clear contrast between the two. Ahead of this the USD/CAD has traded a pretty sideways range all week so far. That has been covered by 1.4010 to 1.4090. The USD/CAD closed in the US last night at 1.4023. It has traded a range so far today covered by 1.4019 to 1.4043 and it is towards the upper end of that just now
Market News
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BOE boss continues to add caution over UK inflation- EUR/GBP on course for a negative daily close
Following the Bank of England decision to leave interest rates unchanged at 4.5%, the BOE governor, Andrew Bailey has been speaking this afternoon... -
S+P 500 back above 5,700 this afternoon
At one point earlier today when the S+P 500 futures were pricing an opening close to 5,625, it seemed unlikely they might push back above 5,700 this... -
US stocks kick off in the red but opening losses pared- check out the Nasdaq 100 now
The US stock markets have not long ago opened for live trading and it has been an across the board lower start to the new trading session. The dollar...
