Here is what you need to know on Monday, December 11:
Financial markets stay relatively quiet early Monday as investors gear up for highly-anticipated macroeconomic data releases and central bank meetings later in the week. The economic calendar will not offer any high-tier data releases. In the late American session, the outcome of the 10-year US Treasury note auction will be watched closely by participants.
The US Dollar (USD) Index snapped a three-week losing streak as the upbeat November jobs report helped the currency preserve its strength heading into the weekend. Nonfarm Payrolls (NFP) in the US rose by 199,000 and the Unemployment Rate declined to 3.7% from 3.9%, the US Bureau of Labor Statistics reported on Friday. Early Monday, the USD Index holds steady at around 104.00. Meanwhile, the benchmark 10-year US Treasury bond yield continues to fluctuate above 4.2% and US stock index futures trade modestly lower on the day.
US Dollar price today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.02% | 0.05% | -0.01% | 0.24% | 0.26% | 0.13% | -0.05% | |
| EUR | 0.01% | 0.06% | 0.01% | 0.26% | 0.28% | 0.15% | -0.03% | |
| GBP | -0.04% | -0.06% | -0.05% | 0.20% | 0.22% | 0.08% | -0.09% | |
| CAD | 0.01% | -0.01% | 0.05% | 0.25% | 0.27% | 0.14% | -0.04% | |
| AUD | -0.24% | -0.26% | -0.21% | -0.25% | 0.02% | -0.11% | -0.29% | |
| JPY | -0.26% | -0.28% | -0.32% | -0.27% | -0.03% | -0.14% | -0.31% | |
| NZD | -0.13% | -0.15% | -0.08% | -0.14% | 0.11% | 0.13% | -0.18% | |
| CHF | 0.05% | 0.03% | 0.09% | 0.04% | 0.29% | 0.31% | 0.18% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
The data from China showed that the Consumer Price Index declined by 0.5% on a monthly basis in November, bringing the annual CPI inflation rate down to -0.5% from -0.2% in October.
EUR/USD touched its lowest level in three weeks below 1.0730 on Friday and ended up closing the week in negative territory. Early Monday, the pair consolidates the previous week's losses and trades above 1.0750.
GBP/USD moves up and down in a narrow channel at around 1.2550 to start the new week. On Tuesday, the UK's Office for National Statistics will release labor market figures for October.
After fluctuating wildly in the second half of the previous week on speculations that the Bank of Japan was preparing to move out of negative rates, USD/JPY gained traction and rose above 145.00 early Monday.
Gold extended its weekly slide on Friday but managed to close slightly above $2,000. XAU/USD struggles to shake off the bearish pressure and tests that key level in the European morning on Monday.
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EUR/USD treads water just above 1.0400 post-US data
Another sign of the good health of the US economy came in response to firm flash US Manufacturing and Services PMIs, which in turn reinforced further the already strong performance of the US Dollar, relegating EUR/USD to the 1.0400 neighbourhood on Friday.
GBP/USD remains depressed near 1.2520 on stronger Dollar
Poor results from the UK docket kept the British pound on the back foot on Thursday, hovering around the low-1.2500s in a context of generalized weakness in the risk-linked galaxy vs. another outstanding day in the Greenback.
Gold keeps the bid bias unchanged near $2,700
Persistent safe haven demand continues to prop up the march north in Gold prices so far on Friday, hitting new two-week tops past the key $2,700 mark per troy ounce despite extra strength in the Greenback and mixed US yields.
Geopolitics back on the radar
Rising tensions between Russia and Ukraine caused renewed unease in the markets this week. Putin signed an amendment to Russian nuclear doctrine, which allows Russia to use nuclear weapons for retaliating against strikes carried out with conventional weapons.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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