November Number of new employees: 836,000 last time, expected 20 million
November Unemployment rate Last time 8.9% Forecast 8.9%
November Changes in the number of non-farm payrolls [month-on-month] Last time 638,000 people Expected 469,000 people
November Unemployment rate Last time 6.9% Forecast 6.8%
November Average hourly wage [Monthly month] Last time 0.1% Expected 0.1%
November Average hourly wage [YoY change] Last time 4.5% Forecast 4.3%
This week, risk appetite dollar selling is predominant. Among them, the US employment statistics, which is a noteworthy index, will be released today. The unemployment rate is expected to drop to 6.8% in November, and the number of non-farm payrolls is expected to settle at around 470,000. The predominant view is that the impact of the partial lockdown in the United States will be minor due to the decline in the unemployment rate.
In addition, the US trade balance in October is expected to increase to 64.80 billion dollars. In the risk appetite, a favorable view that the strength of rice consumption demand is behind the deficit is likely to be influential. The market is expected to react in line with this week’s risk appetite, unless weekend adjustments are significant.
Every week, good news related to virus development is often reported at the beginning of the week, and there seems to be a mood to preserve expectations over the weekend. On the other hand, the Nasdaq Index has hit a new high this week, and there will be some profit-taking sales ahead of the weekend. Today is going to be a good day to estimate the strength of the market.
If the results do not deviate significantly from expectations, it is assumed that the dollar selling flow will continue.
This month, it seems that the market is moving in a way that incorporates the forecast for 2021 next year.
Simply put, the USD is weak and commodities are high (gold, silver, etc.).
Considering that the price of gold will continue to rise, the AUD, which produces a large amount of gold, is likely to increase its top price. This month, we are thinking of putting in a lot of trades that follow the top prices of GOLD and AUD.