Forex Today: US dollar buoyed by NFP, trade jitters ahead of a Big week

Singapore (Dec 9)  Forex today experienced a sense of caution in Asia this Monday, as Sunday’s dismal Chinese trade data combined with looming US Dec. 15 tariffs overshadowed the latest trade optimism. The US dollar held onto the upbeat US payrolls induced gains vs. most majors, although the further upside lacked follow-through amid a retreat in the US Treasury yields. Meanwhile, gold prices were sidelined around 1460 levels following Friday’s sharp decline.

On the G10 fx space, the Antipodeans traded on the back foot on China’s exports drop, with Aussie pressured below 0.6850 while the Kiwi was offered around the midpoint of the 0.65 handle. The pullback in oil prices after the OPEC+ decision led gains also kept the commodity-currencies, including the Canadian dollar, in the red. USD/CAD traded +0.10% higher around 1.3260 region.

Meanwhile, USD/JPY corrected from near 108.70 levels and returned to the 108.50 support area, as the yen was underpinned by upbeat Japanese Q3 GDP data and tepid risk sentiment. Amongst the European currencies, both EUR/USD and GBP/USD attempted a minor bounce, with Cable buoyed by favorable UK election polls.

FXstreet