{"id":76624,"date":"2022-12-03T05:36:00","date_gmt":"2022-12-03T01:36:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=76624"},"modified":"2022-12-03T09:42:24","modified_gmt":"2022-12-03T05:42:24","slug":"market-drivers-us-session-02-12-2022","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-02-12-2022\/12\/03\/market-updates\/","title":{"rendered":"Market Drivers \u2013 US Session 02\/12\/2022"},"content":{"rendered":"\n<p>The weaker US dollar and risk aversion were in news headlines most of the time during Friday\u2019s US trading session. The positive employment report on the United States suggested the Fed might need to keep hiking rates to ease a contracted labour market, though it failed to reinforce the US dollar.  <br><br><strong>Economic Data<br><\/strong><br>NFP data for November surprised the financial markets to the upside and the October figure was revised higher, indicating that the US labour market continues to show signs of good resilience despite tightening financial conditions. What can exactly concern Fed members is the month on month and year on year rise in average hourly wage growth.<br><br><strong>Other Developments<br><\/strong><br>Despite the strong market reaction on Friday, following the EU decision concerning capping Russia oil, some experts have noted that price caps could have minimal impact on the oil market in the near future. If Russia decides to withhold barrels from the market, then the chances of a price surge go up. According to an EU document with details of the cap, the price limit will be regularly reviewed to analyze effects on the market, but would remain \u201cat least 5% below the average market price.\u201d<br><br>Gold closed the week in positive territory despite Friday&#8217;s pullback. XAU\/USD eyes a break above $1,800 as preserves its bullish bias, the precious metal closed at $1802 per ounce.  <br><br><strong>Also Read<br><\/strong><a href=\"https:\/\/noortrends.ae\/en\/usd-chf-shows-passive-performance-in-volatile-session\/12\/03\/market-updates\/\">USD\/CHF shows passive performance in volatile session<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/oil-etfs-fall-following-eus-price-cap-on-russian-oil\/12\/03\/market-updates\/\">Oil ETFs fall following EU\u2019s price cap on Russian oil<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/boe-sells-1-4-bln-pounds-of-long-dated-and-index-linked-gilts\/12\/03\/market-updates\/\">BoE sells GBP 1.4 bln of long-dated and index-linked bonds<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/oil-price-steadies-ahead-of-russian-oil-cap-enactment-opec-meeting\/12\/02\/market-updates\/\">Oil price steadies ahead of Russian oil cap enactment, OPEC+ meeting<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/feds-evans-expects-higher-peak-rate-despite-slower-hiking-pace\/12\/02\/market-updates\/\">Fed\u2019s Evans expects higher peak rate despite slower hiking<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/wall-street-edges-lower-on-nfp-data\/12\/02\/market-updates\/\">Wall Street Edges Lower On NFP Data<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/gbp-usd-poised-for-additional-weakness-on-positive-nfp-data\/12\/02\/market-updates\/\">GBP\/USD poised for additional weakness on positive NFP data<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The weaker US dollar and risk aversion were in news headlines most of the time during Friday\u2019s US trading session. The positive employment report on the United States suggested the Fed might need to keep hiking rates to ease a contracted labour market, though it failed to reinforce the US dollar. Economic DataNFP data for &hellip;<\/p>\n","protected":false},"author":13,"featured_media":52669,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[7957,9937],"class_list":["post-76624","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-nfp-data","tag-price-cap"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/76624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=76624"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/76624\/revisions"}],"predecessor-version":[{"id":76629,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/76624\/revisions\/76629"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52669"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=76624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=76624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=76624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}