04.12.2020: USD trapped at lows (DJIA, USDX, USD/CAD, BTC/USD)

Futures on the US stock indices were getting traction ahead of the publication of macroeconomic data from the US. The unemployment rate edged down to 6.7% last month. The US dollar has got stuck at the lowest level over two and half years. Bitcoin is drifting higher, consolidating gains.
Futures on the benchmark stock indices are trading higher today ahead of the publication of the nonfarm payrolls for November and investors’ bets on a new stimulus bill.
Futures on the Dow Jones are 0.39% up, futures on the Nasdaq rose 0.38%, futures on S&P 500 gained 0.3%.
The US Labor Department reported that the unemployment rate fell to 6.7% in November from 6.9% in October. The US public and private sectors logged minor employment growth with 245,000 jobs. The jobless rate in the pre-pandemic labor market was as low as 3.5%. In April, the rate jumped to 14.7%. In August, it declined to 8.4%.
Importantly, the unemployment rate dropped in November lower than the median forecast of 6.8%.
Today the US dollar index is trading firmly at the lowest level over two and half years. The index shed 0.06% to trade at 90.640.
The greenback is also trading in the red against the Canadian dollar. The currency pair slipped 0.28% to trade at 1.2831.
Bitcoin is drifting lower today. The most popular cryptocurrency is 2.13% down, trading at 18,976 dollars pee token.
Economists are keeping close tabs on developments of the talks among the talks in Congress on a stimulus package. Earlier this week, investors were encouraged by progress toward a coronavirus aid plan worth 908 billion dollars, gaining support from both parties. US Senate majority leader Mitch McConnell said that the parties are on the way to come to a compromise over a stimulus package.
If a compromise is reached, it means that Republicans and Democrats are capable of making joint decisions.

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