US Dollar May Rebound as Jobs Data Boosts Fed Rate Hike Prospects

TALKING POINTS – US DOLLAR, TRUMP, CHINA, TRADE WAR, AUSSIE DOLLAR, YEN

  • US Dollar may rise as upbeat jobs data bolsters Fed rate hike speculation
  • Aussie, NZ Dollars rise with APAC stocks as anti-risk Yen underperforms
  • Hopes for US/China trade accord swelling after “positive” Trump, Xi call

The sentiment-linked Australian, Canadian and New Zealand Dollars tracked rising stocks in Asia Pacific trade while the anti-risk Japanese Yen underperformed. Hopes for a breakthrough in the US trade war with China continued to drive optimism.

The latest bit of encouragement came amid reports that President Donald Trump has instructed his cabinet to draft a possible trade deal after call with his counterpart Xi Jinping. Officials from Beijing later painted the call as “positive”. The two leaders are due to meet on December 1.

US DOLLAR MAY RISE ON JOBS DATA

From here, the spotlight turns to October’s US jobs report. Payrolls growth is expected to recover to print broadly in line with the trend average at 200k per month and the unemployment rate is seen holding at 3.7 percent, the lowest in almost five

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2018/11/02/US-Dollar-May-Rebound-as-Jobs-Data-Boosts-Fed-Rate-Hike-Prospects.html