Yesterday, the major asset markets experienced a relatively quiet session, largely due to a light macroeconomic calendar. With few high-profile data releases on either side of the Atlantic, market movements remained subdued.
In the Eurozone, swap rates saw an increase of 4-7 basis points across the curve, providing support for the euro. On the other hand, the US dollar continued to exhibit a softer tone, carrying over from Wednesday’s trading session. As a result, currency movements among the majors were relatively constrained.
What’s Driving the Markets Today?
All eyes are on the US labour market, with November’s payroll data set to take centre stage. Analysts expect a significant rebound, with payrolls projected to grow by 200,000 following October’s disappointing 12,000 increase.
Accompanying this headline figure, additional labour market metrics—including unemployment rates and average salary growth—are likely to influence the dollar’s trajectory heading into the weekend.
This influx of data introduces a degree of event risk, potentially triggering volatility in currency markets. Such fluctuations could create opportunities for businesses and investors to capitalise on movements in exchange rates.
What This Means for Your Business
As the US payroll data sets the tone for market movements, it’s crucial to understand how these developments could affect your business. Whether you’re managing currency risk or exploring opportunities amid market shifts, having the right insights is key.
Our Qumoney experts are here to provide tailored strategies to help you navigate market volatility with confidence. Reach out today to discover how we can support your business goals.