USD is pulling back slightly as markets are waiting for the release of the US labour market data for December. Equity futures are trading slightly higher while gold remains below $1,900 mark.
While the recent ADP report has boosted chance for today's NFP release to deliver a negative surprise, markets should continue to play out a 'Blue Wave'. Median estimate points to a 50k increase, following 245k jobs addition in November. ADP report pointed to a surprising 123k decline while services ISM employment subindex dropped below 50. However, it should be noted that the economic relief package was passed by the end of December and it should have a major impact on the labour market. NFP data is compiled in the first half of the month. Negative reading could intensify talks over the next fiscal stimulus package.
BREAKING: University of Michigan sentiment declines! 📉
Germany's exports and imports rise above expectations
Economic calendar: Canadian labor market data and FED speakers 🔎
Morning wrap (07.11.2025)
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
