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The US Dollar flat with dust settling over Nonfarm Payrolls number. The Greenback is being rebalanced with markets looking for a December rate cut from the Fed.  The US Dollar Index (DXY) is back above pivotal support at 105.50, heading to 106.00 The US Dollar (USD) is letting the dust settle of the 227,000 print in the Nonfarm Payrolls numbers. That 227,000 is firmly in line of estimates that ranged from 135,000 on the downside to 252,000 on the upside. The fact that the number did break above the highest estimate just ahead of always intensive holiday and shopping season, is seen as in issue. Already earlier this week alarm bells were going off when the Institute for Supply Management (ISM) saw the employment component come in softer than expected for the Services and Manufacturing sector.   Friday will end with the University of Michigan preliminary Consumer Sentiment Index reading and with four Federal Reserve officials making appearances. The focus will start to shift next week to the Fed rate desicion. That makes comments from Fed officials near to the event of December 18th a very good guide if a rate cut is to be expected.  Daily digest market movers: Fed members are taking over The US Jobs Report for November has been released: The Nonfarm Payrolls print came in at 227,000 against the previous 12,000 increase. The estimates ranged from 135,000 on the downside to 252,000 on the upside.  The Unemployment Rate ticked up to 4.2% from 4.1%. The Monthly Average Hourly Earnings number came in at 0.4%, above the expected 0.3%, steady from the previous 0.4%. The University of Michigan has delivered its preliminary reading for December: Consumer Sentiment went to 74, beating the 73 estimate and coming from 71.8 previously.  The 5-year inflation expectations rate fell to 3.1%, from 3.2%…

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Filed under: News - @ December 6, 2024 4:22 pm