Statistics Canada is set to release its Labour Force Survey on Friday, with expectations of a rise in the Unemployment Rate to 7% in November. The Employment Change is predicted to remain unchanged after a previous increase in October. <\/p>\n
Pi Network has been declining for three straight days, nearing a local support trendline. On-chain data suggests a rise in supply pressure, as Centralized Exchanges see increased inflows. Economically, there’s a risk of further PI losses, with the Moving Average Convergence Divergence showing a sell signal.<\/p>\n
The USD is showing weakness, causing movements in currency pairs. The EUR\/USD is testing 1.1650 in European trading, facing rejection from seven-week highs, yet supported by continuous US Dollar selling. Meanwhile, GBP\/USD maintains a positive bias near 1.3350, benefiting from the widespread US Dollar weakness. Gold gains some traction but stays within its recent weekly range as traders await more data.<\/p>\n
Market participants are adopting a cautious stance with the incoming key economic data. This data could influence central bank decisions and affect the overall market sentiment.<\/p>\n
We are bracing for the Canadian jobs report, as the expected rise in unemployment to 7% could pressure the Bank of Canada. The central bank has been on hold for the last six months of 2025 with its policy rate at 4.5%, so a weak report may signal future rate cuts. This suggests traders could consider buying put options on the Canadian dollar, anticipating a decline if the data confirms a slowing economy.<\/p>\n
The broader weakness in the US dollar continues to influence currency markets, particularly after October 2025’s US inflation report showed a cooling to 3.1%. Looking back at the Federal Reserve’s pivot in late 2023, we saw how a shift in rate expectations can sustain dollar weakness for months. This environment makes buying call options on EUR\/USD and GBP\/USD an attractive strategy to capitalize on further upside.<\/p>\n
Gold remains quiet and traders are hesitant to commit to a direction ahead of the incoming data. This indecision, despite a weaker dollar, creates an opportunity to trade volatility rather than direction. Traders could use an options strangle, which involves buying both a call and a put, to profit from a significant price breakout regardless of whether it moves up or down.<\/p>\n
On the crypto front, the technical signals for Pi Network are negative, with increasing supply on exchanges pointing to selling pressure. The broader altcoin market has seen a similar cooling, with total market dominance for altcoins falling by nearly 3% over the last month. For traders, this could be an opportunity to short PI perpetual futures, betting on a price drop if it breaks its current support.<\/p>\n
Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" Unemployment rate may rise; Pi Network faces pressure; USD weakness supports EUR\/USD and GBP\/USD trends.<\/p>\n","protected":false},"author":62,"featured_media":17022,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[],"class_list":["post-36116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\n\t\t