Friday, 02 December 2016 14:10 Written by

Trump is about to inherit the 'Strongest overall jobs market in a generation'.


CentroFX 22112016 0

It is a slightly slower data day Friday, but there is still the US employment report on the schedule. The European calendar gets underway at 06:45 GMT, with the publication of the Swiss GDP data. At 08:00 GMT, the Spanish employment report will cross the wires. The only UK release is expected at 09:30 GMT, when the CIPS/Market November Construction PMI data crosses the wires. Back on the Continent, at 10:00 GMT, the November PPI data will be released. The main release of the day comes at 13:30 GMT, when the US November employment report is published.

Technical Overview.

Pressure continues to return to the $1.0685 resistance (Monday’s high) which increases the risk of a break. Bulls need a close above $1.0685 to confirm an easing of bearish pressure and above $1.0851 to end bearish hopes and initially target $1.0952-69. Initial support is now noted at $1.0638 with bears needing a close below to ease immediate bullish pressure and shift pressure back to the week’s low so far ($1.0550).
UK: The Government suffered an embarrassing by-election defeat in Richmond Park Thursday, with the LibDem's winning the seat from the 'Independent' Zac Goldsmith. The result was seen as a vote against Brexit, in an area of London that voted overwhelmingly Remain in the June referendum. Goldsmith stood down in protest at the government's decision to expand Heathrow Airport. The result cuts PM Theresa May's already thin majority, just as she is set to embark on major Brexit legislation. There is another by-election expected on Dec 8, with the Conservatives again defending a seat.
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Read 167 times Last modified on Friday, 02 December 2016 14:10

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