The Greenback came under renewed and marked selling pressure amid uncertain price action in US yields and investors’ steady prudence ahead of the release of the crucial US labour market report on Friday.
Here is what you need to know on Friday, December 6:
The US Dollar Index (DXY) succumbed to fresh downside pressure and broke below the 106.00 support to challenge weekly lows. The Nonfarm Payrolls will be at the centre of the debate seconded by the Unemployment Rate and the advanced Michigan Consumer Sentiment. In addition, the Fed’s Bowman, Goolsbee, Hammack and Daly are all due to speak.
EUR/USD rose to weekly tops and approached the key barrier at 1.0600 the figure. The Industrial Production in Germany is due, along with another estimate of the EMU’s Q3 GDP Growth Rate and the final Employment Change figures.
GBP/USD extended its weekly bullish move and climbed to three-week highs well north of the 1.2700 barrier. The Halifax House Price Index will be published across the Channel.
USD/JPY faded part of the last couple of daily advances, breaching the key 150.00 support. Average Cash Earning will be unveiled in the Japanese docket along with Household Spending and the preliminary readings of the Coincident Index and the Leading Economic Index.
AUD/USD finally saw some respite to the multi-week move lower, managing to reclaim the 0.6450 region. Home Loans and Investment Lending for Homes are next on tap Down Under.
WTI prices added to Wednesday’s downtick and revisited the $68.00 mark per barrel after the OPEC+ delayed its planned oil output hikes until April.
Gold prices came under strong selling pressure and flirted with the $2,620 zone per troy ounce amid rising caution pre-NFP. Silver prices left behind two daily advances in a row and put the $31.00 zone per ounce to the test on Thursday.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD accelerates losses to 1.0930 on stronger Dollar
The US Dollar's recovery regains extra impulse sending the US Dollar Index to fresh highs and relegating EUR/USD to navigate the area of daily troughs around 1.0930 in the latter part of Friday's session.
GBP/USD plummets to four-week lows near 1.2850
The US Dollar's rebound keep gathering steam and now sends GBP/USD to the area of multi-week lows in the 1.2850 region amid the broad-based pullback in the risk-associated universe.
Gold trades on the back foot, flirts with $3,000
Gold prices are accelerating their daily decline, steadily approaching the critical $3,000 per troy ounce mark as the Greenback's rebound gains extra momentum and US yields tighten their retracement.
Can Maker break $1,450 hurdle as whales launch buying spree?
Maker holds steadily above $1,250 support as a whale scoops $1.21 million worth of MKR. Addresses with a 100k to 1 million MKR balance now account for 24.27% of Maker’s total supply. Maker battles a bear flag pattern as bulls gather for an epic weekend move.
Strategic implications of “Liberation Day”
Liberation Day in the United States came with extremely protectionist and inward-looking tariff policy aimed at just about all U.S. trading partners. In this report, we outline some of the more strategic implications of Liberation Day and developments we will be paying close attention to going forward.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.