| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | Germany | Industrial Production s.a. (MoM) | October | -2% | 1.2% | -1.0% |
| 10:00 | Eurozone | GDP (QoQ) | Quarter III | 0.2% | 0.4% | 0.4% |
| 10:00 | Eurozone | GDP (YoY) | Quarter III | 0.5% | 0.9% | 0.9% |
USD traded mixed against most of its major rivals in the European session on Friday as investors
crucial U.S. labour market report for November later this day, which could impact bets on an end-of-year rate decrease by the Federal Reserve.
The U.S. currency rose versus JPY, AUD and SEK, fell versus CHF, and changed little versus CAD, EUR and GBP.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, inched up 0.05% from the previous close to 105.76.
The Labor Department will release its November Employment Situation Report at 13:30 GMT. Economists anticipate it will show the robust 200,000 new hires for November after a modest 12,000 in October when job creation data were affected by the Boeing strikes and two hurricanes. The unemployment rate, however, is expected to rise from 4.1% in October to 4.2%, and annual wage growth is seen to ease from 4.0% in October to 3.9%.
A hotter-than-anticipated report could add to concerns about renewed inflation pressures and prompt markets to trim bets on another interest rate reduction at the Fed’s December 17-18 meeting. On the other hand, a cooler report would reinforce expectations of a rate decrease at the U.S. central bank’s final meeting this year and further cuts next year.
According to CME FedWatch, markets now see a 68.4% probability of a 25-basis-point rate cut by the Fed this month and a 31.6% probability of no change.