Forexlive Americas FX news wrap: USD sags, bitcoin gives back $100,000

• US initial jobless claims 224K vs 215K expected
• US October trade balance -73.8 billion vs -75.0 billion expected
• Canada October trade balance -$0.92 vs -$0.79 billion expected
• Macron: From now on, a new era must start with new compromises
• BOE’s Greene: We cannot work out yet what direction US tariffs would push UK inflation
• Atlanta Fed GDPNow +3.3% vs +3.2% prior
• November non-farm payrolls preview by the numbers: A rebound, but how high?
• The signals in China aren’t pointing to a big stimulus package this month
• US November Challenger layoffs 57.73k vs 55.60k prior

Markets:

• Gold down $18 to $2631
• WTI crude oil down 7/cents to $68.47
• US 10-year yields down 1 bps to 4.17%
• S&P 500 down 0.2%
• EUR leads, USD lags

It was a noisy in terms of market price action on Thursday and no particular theme developed as the market buckles down for Friday’s non-farm payrolls report. The US dollar was softer across the board but it wasn’t clear why. Initial jobless claims were slightly higher than expected but hardly at concerning levels. Fed odds were unmoved with a Dec high still at 70%.

The euro shook off political uncertainty and the pound rose to the highest since November 12.

Bonds sold off early but recovered to finish flat even with a story in the FT about a European common defense fund of 500 billion euros doing the rounds.

Bitcoin was certainly lively as it broke through $100,000 in Asia yesterday and stayed strong through the US equity open before profit taking hit. Bids at $100,000 and above held the line for a time but those gave out late and there was a briefly dip below $98,000 before a bounce to $99,300 last. That sets up a nail-biter around $100,00 ahead of the weekend.

Oil was in focus with the OPEC meeting but after a quick dip on the headlines to $68, it rebounded to $69.00 and then chopped sideways in the middle of that range.

This article was written by Adam Button at www.forexlive.com.