White House Press Secretary Karine Jean-Pierre will shortly brief the press at the White House.
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EURUSD ended last week on a firm note and is holding on to its recent gains. Thursday’s break higher cancelled a bearish signal on Nov 28 - a shooting star candle pattern - and instead has confirmed a resumption of the current uptrend. This also maintains the positive price sequence of higher highs and higher lows. The focus is on 1.0559, a Fibonacci projection. Key short-term support has been defined at 1.0291 low, the Nov 30 low.
Bonds lead the rebound off post jobs data lows, rising steadily higher (read: narrow upward path) through the NY close. Gist: continued sale unwind/buy support operating under the premise this morning's higher than expected Nov jobs gain of +263k (+200k est) not high enough to seriously dampen expectations of a step-down to 50bp hike at Dec 14 FOMC.
The number of varied trades made up for modest overall volumes Friday. two-way flow as underlying futures steadily reversed post-NFP sell-off as 50bp hike in Dec still priced in (curves flatter as prospect of slower hikes in 2023 cooled, however).