| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | Germany | Factory Orders s.a. (MoM) | October | 1.8% | -0.5% | -6.9% |
| 09:30 | United Kingdom | PMI Construction | November | 54.6 | | 55.5 |
| 11:30 | United Kingdom | MPC Member Dr Ben Broadbent Speaks | | | | |
USD strengthened slightly against most of its major rivals in the European session on Monday, as the U.S. November jobs data were not enough to reverse investors’ expectations for tighter policy in 2022.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, rose 0.07% to 96.19.
Friday’s release of the U.S. employment report for November revealed a miss in job additions (210,000 versus economists’ consensus of 550,000). However, other details of the report showed some positive developments, including a steeper-than-expected decline in the unemployment rate (to 4.2% from 4.6% in October) and deceleration in the growth pace of average hourly earnings (to +0.3% m/m from +0.4% m/m in the previous month).
The headline miss in the jobs report was not seen by markets as enough argument against accelerating the Fed's taper. According to the CME FedWatch Tool, traders see a 74.1% likelihood the Fed begins to hike interest rates in June, up from 71.7% on Friday and 58.6% one week ago.