US nonfarm payrolls expected to drop off
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Despite outperforming market estimates seven months in a row, Mitrade predicted US nonfarm payrolls to indicate an economic slowdown to around 200,000 jobs added in November. This could sway the Federal Reserve to opt for a more moderate monetary policy.
Meanwhile, the dollar continues to weaken against its peers. EUR/USD rose to a five-month high of 1.0524, GBP/USD climbed and stabilized at 1.2253, and AUD/USD closed at 0.6809 with minor gains. USD/CAD traded higher at 1.3432, and USD/JPY lost over 270 pips to 1.3432.
Starting next week, the European Union will officially ban crude oil imports from Russia, causing WTI oil futures to move up slightly to $81.22 a barrel. Spot gold surged more than $30 to 1,802.99 an ounce.
There was a 0.56% drop in the Dow Jones Industrial Average to 34,395, a 3-point loss (-0.08%) in the S&P 500 to 4,076, and an 11-point gain (+0.10%) in the Nasdaq 100 to 12,041.
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔼
USD/JPY 🔽
XAU 🔼
WTI 🔼
Despite outperforming market estimates seven months in a row, Mitrade predicted US nonfarm payrolls to indicate an economic slowdown to around 200,000 jobs added in November. This could sway the Federal Reserve to opt for a more moderate monetary policy.
Meanwhile, the dollar continues to weaken against its peers. EUR/USD rose to a five-month high of 1.0524, GBP/USD climbed and stabilized at 1.2253, and AUD/USD closed at 0.6809 with minor gains. USD/CAD traded higher at 1.3432, and USD/JPY lost over 270 pips to 1.3432.
Starting next week, the European Union will officially ban crude oil imports from Russia, causing WTI oil futures to move up slightly to $81.22 a barrel. Spot gold surged more than $30 to 1,802.99 an ounce.
There was a 0.56% drop in the Dow Jones Industrial Average to 34,395, a 3-point loss (-0.08%) in the S&P 500 to 4,076, and an 11-point gain (+0.10%) in the Nasdaq 100 to 12,041.