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Effectively, that was fairly per week! When you blinked throughout the first buying and selling days of December, you may need missed the greenback’s worst multi-day tumble since September—triggered by some surprisingly terrible U.S. employment information that had merchants scrambling to cost in additional Fed price cuts.

In the meantime, down beneath, the Australian greenback pulled off one of many week’s most spectacular comebacks, shrugging off a disappointing GDP miss to complete because the top-performing main foreign money.

The actual plot twist? Friday’s employment surprises on either side of the North American border. Canada’s jobs report completely crushed expectations, flipping the loonie from laggard to chief within the span of some hours, whereas U.S. jobless claims hit a three-year low—creating a kind of head-scratching moments the place conflicting information leaves everybody questioning what the Fed will truly do subsequent week.

Let’s break down how every main foreign money navigated this turbulent stretch and what catalysts drove the motion.