The dollar is strengthening against all currencies - except perhaps the highly sought-after yen, which remains at parity at around 150.00.

The greenback is gaining +1% against the Canadian dollar (which has fallen back to 1.4150), +0.25% against the pound and +0.3% against the euro (which is down to 1.05540, reducing its gain to +0.6% hebdo).

The '$-Index' gained +0.4% to 106.1, after retreating in previous sessions on rising expectations of rate cuts by the FED on December 18.

The Euro retreated and erased its gains of the previous day (post-censorship rebound): in his address broadcast last night, President Macron pledged to appoint a new Prime Minister 'in the coming days', and then to enact 'Special Laws' to counteract the deleterious effects of the lack of a PLF 2025.

Politics aside, there were some much-anticipated economic indicators on the agenda this Friday.

The US Department of Labor's monthly report showed 227,000 nonfarm jobs in November, according to the Labor Department, a number slightly above economists' expectations, which were generally around 200.000.

The unemployment rate, however, rose by 0.1 points to 4.2%, where stability at 4.1% had been anticipated, while the labor force participation rate stood at 62.5%, and average hourly earnings rose by 4% year-on-year.

In addition, non-farm job creations for the previous two months were revised, from 223,000 to 255,000 for September and from 12,000 to 36,000 for October, for a total revision balance of +56,000 for these two months.

The preliminary calculation of the University of Michigan's consumer index shows a rise in confidence, to 74 this month, after 71.8 in November and 73.3 expected by economists.

While the sub-index measuring the evolution of their expectations worsened to 71.6, compared with 76.9 last month, the sub-index assessing their judgment of their current situation jumped to 77.7, after 63.9 in October.

Despite these very robust figures, the probability of a rate cut on 18/12 stands at over 70%, compared with 66% a week ago, according to the FedWatch barometer of stock market operator CME Group.



Copyright (c) 2024 CercleFinance.com. All rights reserved.