More USD weakness yesterday after Revelio Labs revealed the US lost 9,000 nonfarm jobs in November ,with the October reading revised even lower to losses of 15,500 from 9,100. GBPUSD hit the October 28th highs as a result.
*Daily move - against G10 rates as of 06:00 GMT, 05.12.25
** Indicative rates - interbank rates as of 06:00 GMT, 05.12.25
Core PCE numbers are out in the afternoon, but impact could be muted given the numbers are from September – so we will need to see a big deviation to have a meaningful impact on USD.
Also on the agenda today are final GDP numbers from the Eurozone. Germany’s lower house is set to vote on a pension bill that could topple Chancellor Merz’s coalition with the SPD, should the vote fail. This could potentially trigger new elections and cause political instability.
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