The U.S. Dollar was trading mixed on Thursday. Economic data on the day showed that U.S. private sector firms added 179k jobs during November. This was below estimates of a 200k expectation. Previous month’s data was revised down to 225k from 227k previously. The ADP report comes ahead of today’s payrolls data.
Elsewhere, German factory orders increased by 0.3% on the month beating estimates of a 0.4% decline. Previous month’s data was revised down to 0.1%.
OPEC, which met in Vienna decided to cut oil production. However, the cut in production was less than the market expectations as it pushed oil prices lower on the day.
The ISM’s non-manufacturing PMI report showed that activity rose to 60.7 on the index. This beat a conservative forecast and non-manufacturing activity increased from 60.3 previously.
U.S. factory orders, however, showed a decline, falling 2.1% which was more than the forecasts of a 1.9% decline.
Data from Japan earlier today showed that average cash earnings increased 1.5% on the month. The European session stats with the industrial production figures from Germany and France. German industrial production is expected to rise 0.3% on the month while French industrial production is expected to increase by 0.8%, partly reversing a 1.8% decline from the previous month.
Inflation expectations from the UK will be coming out later in the day while the final revised GDP for the third quarter is due from the Eurozone. No changes are expected as the GDP is forecast to remain steady at 0.2%.
The NY trading session starts with the labor market data from Canada, and the U.S. Canada’s unemployment rate is expected to hold steady at 5.8%.
The U.S. unemployment rate is expected to hold steady at 3.7% as the economy is forecast to add 200k jobs in November. Wages are forecast to rise by 0.3% on the month, slightly accelerating from the 0.2% increase previously.
