U.S. dollar unchanged ahead of the U.S job report

U.S. dollar unchanged ahead of the U.S job report
Written by:
Andia Rispah
6th December 2019
  • USD remained stable in Asia as traders looked forward to the release of the latest U.S. job report
  • Analysts expect the job report to show the economy added 186,000 jobs in November,
  • Traders also watch the latest development on the US-China trade front closely.

On Friday, the USD remained stable in Asia as traders looked forward to the release of the latest U.S. job report due later today.

The U.S. dollar index was unchanged at 97.380 by 05:30 GMT. The index tracks the USD against a basket of other currencies.

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Analysts expect the job report to show the economy added 186,000 jobs in November, up from 128,000 jobs reported in October, and 155,000 in Nov 2018.

The projected unemployment rate is expected to hold steady at 3.6% unchanged from October and down slightly from Dec 2018.

Sino-U.S trade front

Traders also watch the latest development on the US-China trade front closely, a Trump said, “something could happen” and on whether the U.S. will impose new tariffs on Chinese goods starting Dec 15.

On Thursday, Trump made a positive remark about the possibility of ending the trade dispute soon. But, it came after he had made a negative one saying the deal could wait until after the U.S. presidential election in Nov 2020.

The USD/CNY pair traded 0.1% lower to 7.0417.

The EUR/USD pair changed little at 1.1102 as data on Thursday showed that German factory orders unexpectedly declined in October.

The GBP/USD pair was also near flat at 1.3156. 

Reports this week suggested that U.K. Prime Minister Boris Johnson could win a majority at next week’s election, paving the way for Britain to leave the European Union on Jan 31.

The USD/JPY pair dropped 0.1% to 108.68.

Meanwhile, the AUD/USD pair and the NZD/USD pair both gained 0.2%.

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