US and Canada jobs data and trade figures in the limelight - BBH

In view of the analysts at BBH, the US and Canadian December jobs data and November trade figures will be in the limelight in today’s session.  

Key Quotes

“The main focus is on the US employment.  We see downside risks, especially following the ADP, service ISM, Challenger figures and the trend in jobless claims.  The decline in jobless claims reported yesterday were likely skewed by the holiday and are well past the survey week for the non-farm payroll.   A disappointing headline non-farm payroll figure and a tick up in the unemployment rate that many expect could be blunted by a stronger than expected rise in hourly earnings. Although it may be choppy, we see the technical evidence aligned for additional corrective pressure on the dollar.”