"Markets are focused on the delayed nonfarm payrolls reports for October and November, alongside November's unemployment rate and October retail sales, all of which are expected to provide clearer signals on the underlying strength of the US economy after weeks of data disruption caused by the government shutdown. Currently, traders are pricing in two rate cuts by the Federal Reserve by the end of next year."
"The European Central Bank is widely expected to keep rates unchanged, while the Bank of Japan is anticipated to deliver a rate hike, a move that could support the yen and weigh on the dollar as the respective monetary policies diverge. In contrast, the Bank of England is expected to cut rates, broadly mirroring the Federal Reserve's recent easing bias."
The US dollar remained near multi-week lows as investors awaited a dense set of delayed macroeconomic releases that could reshape expectations for US monetary policy in 2026 and influence near-term dollar direction. Markets focused on delayed nonfarm payrolls for October and November, November's unemployment rate, and October retail sales to assess underlying US economic strength after weeks of data disruption from the government shutdown. Traders priced in two Federal Reserve rate cuts by the end of next year, but incoming data could alter those expectations and trigger volatility across currency and bond markets. Global central bank moves are also poised to affect exchange rates.
Read at London Business News | Londonlovesbusiness.com
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