US NFP in Focus Today

The US dollar picked up steam in the Asian trade today. Investors are anticipating a US Non-Farm Employment Change report as the top priority. Meanwhile, Japan released a report on GDP growth for the third quarter. Japan’s economy surged 0.6% on a quarterly basis. The nation’s GDP grew at an annualized pace of 2.5% that beat expectations for a moderate 1.5% gain. Besides, China’s statistics cemented the optimism of investors. The country’s trade surplus widened last month to 40.2 billion US dollars. China’s exports jumped 12.3% in November, surpassing forecasts. Imports expanded 17.7% in dollar terms.

The upbeat statistics aroused risky sentiment among investors. The USD/JPY pair spiked above 113.00, heading for the target level of 114.00. On December 13th, the US Federal Reserve will announce its decision on the key interest rate. Market participants are betting on the soonest monetary tightening in the US. Such strong expectations are certainly bullish for the greenback.

The US dollar index has nearly approached 94.00. Forex traders are also full of hopes that the closely watched US Non-Farm Payrolls will show solid employment growth that will be another reason to buy the US dollar. Moreover, investors are inspired by recent developments in the US Senate, which is going to pass the bill on funding the US government tonight.

In the overnight trade, Bitcoin crested above $16,600 and made a downward correction to $15,800. The main market moving event later will be the US Non-Farm Payrolls. The US currency is set for a big weekly gain amid welcoming developments in the US economy,

Feed enhanced by Better Feed from Ozh

Trade Forex, Commodities, Stocks and more, trade CFDs on the Plus 500 CFD trading platform! *CFD Service. 80.6% lose money - Register a real money account here and get trading right away.

Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.