US Politics and Jobs Data in Focus

Friday’s focus is on events in the United States, with the probe into possible Russian interference in the U.S. presidential election weighing on markets somewhat and the latest, always keenly watched, jobs reports due later.

The dollar is still on the defensive, close to 2-1/2-year lows against the euro and seven-week lows versus the yen. The political uncertainty emanating from the White House, along with mediocre U.S. data, have taken a toll on the greenback. If the monthly payrolls report shows the forecast 183,000 jobs, or more, were created, that could help the dollar.

Also bubbling in Washington is the possibility of a major trade row with China as President Donald Trump prepares to launch an inquiry into Beijing’s intellectual property and trade practices. An expected White House announcement on the matter on Friday has been postponed.

Reuters

The Political Headline Cup Runneth Over

USD/CAD Canadian Dollar Lower Ahead of US Jobs Data

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.