News of the day. Friday 04.12.2015

December 4, 2015

For traders, Friday is going to be just as tense as Thursday was. Today markets are expecting data on the US labour market, which is due at 3:30 pm (all times stated in GMT+2). The Unemployment Rate is expected to remain unchanged at 5.0%, while the Nonfarm Payrolls will add 200 thousand new jobs which is still lower than October data that showed a 271 thousands addition. However, the leading indicators, in general presented optimistic readings. The ADP Employment Change came out at 271 thousands, which was better than the previous figure and the forecasts. In addition, the Challenger Job Cuts significantly fell from 50.504 to 30.953 thousands. However, the average number of Initial and Continuous Jobless Claims in November slightly increased. Therefore, there is a high possibility that November NFP will exceed its forecasts that would support the US Dollar. Today attention also needs to be paid to November data on the Consumer Price Index from Switzerland that is due at 10:15 am. According to forecasts, on a month-to-month basis the index will fall from 0.1% to 0.0%, while against the previous year it will increase from -1.4% to -1.3% that continues representing deflation. Also at 3:30 pm, November data on the Canadian labour market is due. The Unemployment Rate is expected to remain unchanged at 7.0%, while the Net Change in Employment will amount to 0.7 thousands and the figure might pressure the Canadian Dollar.

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