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Dollar More Stable After Three Sessions of Weakness

FOREX

Currency markets are pretty non-directional early Friday, with the dollar mixed after profound weakness across the past three sessions. Markets have a risk-off feel to them, with CHF, EUR stronger while equities retreat across Europe and in US futures space. EUR/USD ascent continues, with the pair hitting new weekly highs this morning at 1.1860.

Election votes continue to trickle through, with Biden taking the lead in swing state of Georgia. A victory here would bring Biden just 1 electoral vote from the 270 needed to take the White House. Counts in Arizona, Nevada, North Carolina and Pennsylvania continue.

Friday's Nonfarm Payrolls release takes focus going forward, with the US expected to have added 593,000 jobs across the month, bringing the unemployment rate lower by another 0.3ppts. The street appears a little more bullish, with the whisper number resting at just over 650,000, although this has fallen from over 700,000 just a few days ago. The Canadian jobs report is also on the docket.

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