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.


The Political Headline Cup Runneth Over

USD/CAD Canadian Dollar Lower Ahead of US Jobs Data

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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