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- European session review: USD little changed ahead of U.S. December jobs report
European session review: USD little changed ahead of U.S. December jobs report
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 08:00 | Switzerland | Foreign Currency Reserves | December | 875.924 | 891.224 | |
| 08:30 | United Kingdom | Halifax house price index | December | 1% | 0.5% | 0.2% |
| 08:30 | United Kingdom | Halifax house price index 3m Y/Y | December | 7.6% | 6% | |
| 10:00 | Eurozone | Unemployment Rate | November | 8.4% | 8.5% | 8.3% |
USD traded flat and mixed against its major rivals in the European session on Fridays, as markets were anticipating the release of the official U.S. jobs report for December (due at 13:30 GMT), which is expected to provide clues on the amount of fiscal stimulus needed to bolster the coronavirus-hit economy.
The U.S. currency rose against EUR, fell against GBP, AUD and CHF, and changed marginally against JPY, NZD and CAD. The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, inched up 0.1% to 89.90.
Economists anticipate the U.S. employers to have added only 71,000 jobs last month, down from 245,000 in November, as coronavirus cases surged and tighter restrictions were imposed. The unemployment rate is forecast to have edged up to 6.8% in December from 6.7% in the previous month.
It is widely expected that the administration of Joe Biden and a Democratic-controlled Congress will increase spending on infrastructure projects and approve other fiscal measures to foster the recovery of the U.S. economy. Before the crucial Senate runoffs in Georgia, Biden stated that $2,000 stimulus checks would be delivered to Americans if the Democrats won these elections.
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