US jobs data are the top of the most important economic data expected during today's trading, as the markets prepare within hours for the release of data in the first months of the year, which will draw the features of the sector during the coming period. The labor market sector is expected to add 163,000 jobs compared to 145,000 previously, with wages rising on a monthly basis of 0.3% and unemployment remaining at 3.5%. The following are the most important indicators of the labor market sector:
The index of change in employment in the private sector ADP increased from 157 thousand to 291 thousand.
The ISM manufacturing component increased slightly.
The average unemployment benefits fell in four weeks from 224 thousand to 211 thousand.
The University of Michigan's market sentiment rose to its highest in eight months.
Consumer sentiment index rose to its highest level in five months.
ISM service sector employment fell to its lowest level in four weeks.
From the foregoing we conclude that most of the indicators indicating the labor market data to be issued are in the positive range, which supports the possibility of better data or even within the expected, and therefore the US dollar witnessed strong gains against most major currencies.
The Australian dollar was one of the most affected currencies with the rise of the US dollar after the negative tone that penetrated the speech of the Reserve Bank of Australia Governor Philip Lowe with the confirmation that the Australian economy was affected by the negative impact of the spread of the Corona virus, which struck the global economy in 2003 to approach the Australian dollar From 0.6680 levels, and if the aforementioned levels are broken, we may see the pair again at 0.66 levels.
As for gold trading, if the US dollar continues its strong gains, it will undoubtedly press the minerals with low returns, especially gold, which may return again to 1540 dollars an ounce, especially with news of an approach to effective treatment approaching to eliminate Corona, which will help to reduce the demand for Safe havens and an improved appetite for risk for investors in the coming period. Finally, the market is also awaiting Canadian labor market data, which may somewhat weigh on Canadian dollar trading, as the Unemployment Change Index is expected to rise in January by 16.3 thousand compared to the previous reading at 35.2 thousand, while unemployment is expected to increase from 5.6 % To 5.7%.