Here is what you need to know on Friday, November 8: The US dollar is holding onto its gains, as bond yields remain elevated. Markets focus on the US jobs report for December, which could be negative. President Trump sent a calming message denouncing the Capitol chaos, potentially defusing tensions. Canada’s labor figures and Bitcoin’s ascent to near $40K are also eyed. US Treasury yields have been extending their gains, trading near 1.10%. The move followed Democrats’ win of the Senate, which would enable passing massive stimulus and raising American debt. Details about President-elect Joe Biden’s economic plans are set to emerge. Is King Dollar ready for a comeback? Looking at the blue wave, Capitol chaos and the Fed Gold remains on the back foot, trading closer to $1,900 as returns on US Treasuries remain elevated. Capitol chaos: President Donald Trump made a sharp U-turn, denouncing the rioters who stormed the Capitol and temporarily delayed the certification of Biden’s win. He also promised to help in the transition to a new administration. Several cabinet members resigned and Democrats called for impeaching Trump, despite the short time he has in office. Investors are shrugging off the political drama. The final Nonfarm Payrolls report of 2020 is set to show a modest gain of 71,000 jobs amid the winter wave of the virus. Indicators leading to the publication have been mixed, with ISM’s Purchasing Managers’ Indexes painting an upbeat picture while ADP’s private-sector figures falling short of estimates. See: Nonfarm Payrolls Preview: Long path to recover to be even longer US Nonfarm Payrolls December Preview: Labor economy woes escalate Canada releases its labor statistics at the same time and economists expect a loss of jobs and an increase in the Unemployment Rate. USD/CAD has been trading below 1.27 amid the rise in oil prices earlier this week. The black gold benefitted from Saudi Arabia’s unilateral production cut. Canadian Jobs Preview: Expectations for job losses may result in a loonie rally Coronavirus continues raging in the US and Europe. America’s daily death toll is at around 4,000 and hospitalizations are above 130,000. UK Prime Minister Boris Johnson announced a ramp-up of its vaccination campaign. Israel, the world’s leader in immunization, aims to vaccinate all adults by the end of March. According to Pfizer, its inoculation is able to cope with both the British and South African variants of COVID-19. Bitcoin has been extending its gains, nearly hitting the $40,000 mark. Ethereum is at around $1,200. Five factors moving the US dollar in 2021 and not necessarily to the downside FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Enjin Coin price goes ballistic swinging 60% to the moon FX Street 11 months Here is what you need to know on Friday, November 8: The US dollar is holding onto its gains, as bond yields remain elevated. Markets focus on the US jobs report for December, which could be negative. President Trump sent a calming message denouncing the Capitol chaos, potentially defusing tensions. Canada's labor figures and Bitcoin's ascent to near $40K are also eyed. US Treasury yields have been extending their gains, trading near 1.10%. The move followed Democrats' win of the Senate, which would enable passing massive stimulus and raising American debt. Details about President-elect Joe Biden's economic plans are set to… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.