???? NFP, the end of a week of rising data

The monthly non-farm payroll report from the U.S. Department of Labor can have a substantial impact on forex markets when the numbers are released on the first Friday morning of a new month. US stock futures were lower on Friday as investors cautiously awaited the November jobs report, which would be the last monthly jobs report before the Federal Reserve meets on December 13-14.

MARKETS

The US economy likely added 200,000 jobs in November 2022, which would be the smallest job gain since December 2020, as the job market normalizes after the impact of the pandemic. In addition, many large companies, specifically in the technology sector, have announced layoffs. Even so, an increase of 200,000 jobs would indicate a healthy and tight market, above the pre-pandemic average of 150,000 to 200,000 jobs created per month. So far this year, job growth has averaged 407,000 per month compared to 562,000 in 2021. Meanwhile, the unemployment rate is holding steady at 3.7%, while wage growth has likely slowed. Wages are forecast to rise 0.3%, down from 0,

US stock futures were lower on Friday as investors cautiously awaited the November jobs report, which would be the last monthly jobs report before the Federal Reserve meets on December 13-14. Dow and S&P 500 futures fell about 0.2%, while Nasdaq 100 futures lost 0.1%. In regular trading Thursday, the Dow Jones and S&P 500 fell 0.56% and 0.09%, respectively, while the tech-heavy Nasdaq Composite rose 0.13%. Those moves came as investors digested mixed economic data,

COMMODITIES

Iron:Prices for iron ore cargoes grading 63.5% iron ore content for delivery to Tianjin rose to $105 in December, the highest level since mid-September amid easing of Covid restrictions and measures to stimulate the economy in the main consumer China.

Major Chinese cities announced looser lockdown rules after the protests, raising hopes other industrial hubs would follow suit. In addition, the country's largest commercial banks agreed to extend $162 billion in new credit lines to private developers to combat the sector's liquidity crisis, and the PBoC further lowered banks' reserve requirement ratio.

Previously, The National Bond Authority expanded a key financing program by $35 billion to support bond sales after a period of default increased the cost of credit for homebuilders. Concerns with the indebted real estate sector continue as iron ore prices are 34% below their 2022 peak in March, while property sales continue to plummet.

The steady supply from Ukraine also contributed to the price decline. as iron ore prices are 34% below their 2022 high reached in March, while property sales continue to plummet. The steady supply from Ukraine also contributed to the price decline. as iron ore prices are 34% below their 2022 high reached in March, while property sales continue to plummet. The steady supply from Ukraine also contributed to the price decline.

FOREIGN EXCHANGE

Euro: The euro topped $1.05 at the start of December, a level not seen since late June, and extended a 5.5% gain into November, its best month since September 2010. The common currency has benefited from a decline in the USD as investors bet the Fed will ease the pace of tightening from its December meeting, while lowering expectations for the federal funds rate peak.

In Europe, it is not yet clear what the ECB will do at the next meeting. The latest Eurozone inflation report showed that annual inflation slowed to 10% in November, while core CPI was unchanged at 5%.

Chilean Peso : The dollar peso is in the death zone and without a doubt that it is under strong downward pressure due to the abrupt fall that the dollar index is having so far in the last two months. This drop in the index strengthens copper, which is also in an area with very low inventories and that with the riots in China regarding the Covid, the upward trend for the red metal is further intensified.

Yesterday the dollar peso approached the area of $875 and if it breaks this floor it will look for bearish scenarios with a view to $850. For now, the 200 MA on daily charts is providing support, but for how long？ It will be the non-agricultural jobs report today that sheds light on us to see what the trend of the index will be, which up to now most confirms bearish scenarios.

CRYPTO MARKET

Coinbase disables NFT transfers in the iOS app as Apple wants a 30% cut. In a Thursday tweet, Coinbase confirmed that the tech giant blocked its “latest app release” until the cryptocurrency exchange disabled the feature.

The iPhone maker wants 30 percent of the gas fees associated with all NFT transfers through in-app purchases. “Apple's claim is that the gas fees required to send NFTs must be paid through their in-app purchase system, so they can collect 30% of the gas fee,” Coinbase tweeted. It's in line with Apple's existing policy of receiving a large share of all in-app purchases.