US October non-farm payrolls +165K vs +65K expected Canada Employment change for October -4.7K vs 13.6K estimate.
Unemployment rate 6.7%
Iran responds positively to latest mediator proposal – report November US UMich prelim consumer sentiment 51.0 vs 48.0 expected Iran reviewing proposals to curb nuclear program – report BOJ’s Ueda: Consumer prices now around 3% and expected to rise further into early next year Microsoft is reportedly winding down it’s Oracle deal to wind down AI cloud capacity Fed’s Daly: Jobs report is good news Trump chief of staff Susie Wiles to be replaced by Stephen Miller Trump: We are talking to Iran, we are doing very well with Iran Markets: Gold down $22 to $4065 US 10-year yields down 2.4 bps to 4.86% WTI crude oil flat at $90.50 S&P 500 up 0.3% USD leads, AUD lags There was some good news after the close with OpenAI closing a funding round of $11 billion at a valuation of $1.25 trillion. The FT also reported that Anthropic continues to plan its IPO for this month and will raise $80-100 billion at a $1.25-1.75 trillion valuation. That should help things out next week, provided no other surprises.
As for trading on Friday, non-farm payrolls helped to lift the dollar as it was a strong report across the board. Daly’s comments later helped to hammer home the hawkish view on the data. On the flip side, another soft Canadian jobs report has economists raising questions about the wisdom of another rate hike this year.