Dollar climbs for another session ahead of US labor data

2018-12-06 13:11:57 GMT (
Dollar climbs for another session ahead of US labor data

Dollar rose in European trade on Thursday for another session as interest grows anew on the greenback as a safe haven, and amid expectations of a Fed rate hike this month for the fourth time this year. 


The dollar index last traded at 97.16, up 0.2% for the day, with a session-low at 96.90. 


The index marked a 0.1% gain on Wednesday away from two-week lows at 96.29, marked earlier this week. 


The Canadian Justice ministry said that authorities arrested Huawei Chief Financial Officer on charges of the Chinese company's violations of US sanctions on Iran. 


Such news are expected to hamper trade negotiations between US and China after a truce declared at the G20 Summit recently, in turn raising risks and souring market sentiment. 


Otherwise, odds are mostly on the Federal Reserve taking another interest rate hike this month, with later data today expected to offer some clues on the Fed's expected path of policy tightening. 


The US private sector is expected to have added 195 thousand last month, down from 227 thousand in October. 


The productivity gauge is estimated with a 2.3% increase, up from 0.9% in the second quarter, while labor costs are estimated with a 1.1% increase, compared to a 1.0% drop before.  


US unemployment claims are expected to have slipped to 226 thousand, while continuing claims are expected with a 15K drop to 1.695 million. 


The ISM services PMI is expected to have slipped to 59.1 in November from 60.3, while factory orders are estimated with a 1.9% decline, compared to a 0.7% increase in September


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