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At 01:50 (GMT+2), the data on Japanese GDP in Q3 2019 will be released. The GDP is the main indicator reflecting the state of the national economy. It takes into account domestic consumption, investment, government spending and exports. It is expected that the growth of the Japanese economy on a quarterly basis will remain at around 0.1%, and on an annualized basis it may increase from 0.2% to 1.3%. If the forecast proves correct, it can support JPY.
Baker Hughes Oil Rig Count data are due at 20:00 (GMT+2) in the US. The weekly report records a change in the amount of oil rigs in the United States. Since the end of last year, the indicator has been steadily declining. The last time the number of drilling rigs decreased from 671 to 668 units. The continuation of the trend may give additional support to oil quotes.
USD is strengthening against EUR and GBP but weakening against JPY. American investors are focused on trade relations between the United States and China. Yesterday, US President Donald Trump confirmed that the two largest world economies will conclude a deal soon. However, the Wall Street Journal reported that the parties still cannot agree on the size of China's purchases of US agricultural products. The US administration insists on increasing purchases to the amount of $40–50 billion, while last year China acquired it only for $8.6 billion. Moreover, US officials insist on China publicly announcing procurement amounts, which he does not agree to.
The US Unemployment Rate data for November are due at 15:30 (GMT+2). The indicator records the percentage of the number of unemployed citizens older than 18 to the total number of the population able to work. Only registered unemployed citizens are counted. The unemployment rate is expected to remain at the previous level of 3.6%.
Canadian Employment Change data for November are due at 15:30 (GMT+2). Employment Change reports the change in the number of people employed versus the prior month. It is expected that the number of employees will increase by 10K. If the forecast proves to be true, this may render support to CAD.