Russia FX/Rates Snapshot - December 4, 2020
The focus today will be the US nonfarm payroll report. The most recent weekly jobless claims data was significantly better than expected, while recent US macro data has been positive despite the difficult situation with the virus. In light of this, nonfarm payroll gains could top the 475k consensus estimate. If that does happen, it could drive demand for dollars (especially going into the weekend, when caution usually prevails).
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