Forex Today: Happy Friday for trade talks, GBP/USD holding onto Boris boost, all eyes on the NFP

Here is what you need to know on Friday, December 6:

Trade: Global Times, a Chinese media outlet, has reported that Sino-American trade talks remain on track and the market mood is upbeat. President Donald Trump had previously echoed the same sentiment. The clock is ticking toward the December 15 deadline, when the US is set to slap new tariffs on China. The latest commerce data has shown sliding trade between the world's largest economies while they negotiate farm purchases and tariffs. 

Jobs Friday: Economists expect the US Non-Farm Payrolls to show an increase of around 180,000 positions in November, and Average Hourly Earnings to increase by 3% yearly. The all-important NFP is due before the last Federal Reserve's last decision of 2019. Indicators leading toward the release were mixed. The University of Michigan's preliminary Consumer Sentiment Index for December is also of interest.

Canada's jobs report is forecast to show a rise of 10,000 jobs in November and no change in the 5.5% Unemployment Rate. See Canadian jobs preview: Three reasons why USD/CAD may extend its falls

GBP/USD has been trading at higher ground around 1.3150, amid a growing notion that the Conservatives are on course to a victory in six days' time. Britain Elects' poll tracker is showing a 9.6-lead for Prime Minister Boris Johnson's party. 

Europe: France has been rocked by a general strike and transport disruptions after President Emmanuel Macron presented a pension reform. In Germany, the new leadership of the SPD, Chancellor Angela Merkel's junior coalition partner, will assume their posts today and they may accelerate the breakup of the partnership. German Industrial Production is set to show a modest increase in output. 

OPEC and non-OPEC countries are mulling a cut of 500,000 barrels per day as deliberations continue. Russia secured an exclusion of condensate from its own quota. Deliberations continue in Vienna. WTI Oil is trading around $58. Saudi Aramco successfully completed its Initial Public Offering by raising $26.5 billion, and it is worth $1.7 trillion.

The kiwi dollar is extending its gains after the Reserve Bank of New Zealand said the new capital rules should not impact trade policy. 

More: US recession? Not so fast, a calm look at the economy and currencies ahead of the NFP.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

AUD/USD: Bounces off one-week low on Powell-Mnuchin comments, eyes RBA

AUD/USD probes pullback from multi-month high ahead of the key data/events. Fed Chair Powell conveys economic worries, US Treasury Secretary Mnuchin pushes for stimulus. Risks dwindle amid economic fears, uncertainty over the US covid aid package.


Gold: Wobbles near five-month low below $1,800 as Powell, Mnuchin weigh on risks

Gold prices seesaw around $1,77/78 during the early Tuesday morning in Asia. The yellow metal dropped to the lowest since July the previous day before bouncing off $1,764.73. Economic fears, need for stimulus raise bars for the bull’s entry.

Gold news

EUR/USD retreats after its first attempt to break above 1.2000

EUR/USD trades around 1.1940 after failing to break above the psychological threshold. Bulls retain control and would likely challenge the level once again.


Ripple Price Prediction: XRP sits on the verge of an explosive breakout

XRP traded as high as $0.78 on November 24 before a brief period of a correction down to $0.456. Ripple price is trading at $0.655 at the time of writing, notably recovering from the dip and aiming to set higher highs.

Read more

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info