Analysis

USD dropped against most majors at the backdrop of the US labor market statistics published on Friday

USD dropped against most majors at the backdrop of the US labor market statistics published on Friday. Nonfarm Payrolls reduced compared to the previous period and amounted to 155K in November against 237K a month earlier. Unemployment Rate remained at the level of 3.7% in November. Average Hourly Earnings turned out worse than expected 0.3% amounting to 0.2% in November against 0.1% in the previous month. YoY the indicator remained unchanged at the level of 3.1% in November. Investors reacted to this news with active sales of USD.

EUR/USD

Quotes of the pair EUR/USD increased to 1.1430 on the background of Friday sales of USD. In the absence of news from euro area and the US, the movement of the instrument will be influenced by technical factors.

GBP/USD

The pair GBP/USD reacted to Friday statistics from the US with a moderate increase to 1.2789, after which it moved to a decline. However, during today's Asian session, the rate is restoring and has already reached 1.2752. Today, investors will pay attention to statistics on the UK GDP, as well as data on industrial production and on trade balance (11:30 GMT+2). On a monthly basis GDP is expected to grow to 0.1% in October from 0.0% a month earlier. Industrial production in monthly terms is expected to drop to –0.4% in October from 0.0% a month earlier, and in annual terms it might drop to –0.2% in October from 1.0% in the previous period. Investors continue monitoring the development of the situation around Brexit. The final vote on this issue will be held tomorrow.

USD/JPY

Quotes of the USD/JPY pair fell to the level of 112.44 against the background of weak statistics on the US labor market. Statistics from Japan published at night was weak, but could not provide support to the pair. Japan's GDP in the third quarter YoY fell to –2.5% from –1.2% in the previous period. QoQ, the decline was –0.6% in Q3 2018 versus –0.3% in the previous month.

AUD/USD

The rate of the pair AUD/USD supported by positive statistics from Australia published at night rose to the level of 0.7217. Home Loans rose to 2.2% in October from –1.0% a month earlier.

Gold

Due to the general weakening of USD, gold quotations increased to 1250.00.

 

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