Statistics Canada will release its Labour Force Survey on Friday. It is expected that the Unemployment Rate will rise to 7% in November. The Employment Change is predicted to stay the same after an increase in October. Pi Network has been dropping for three days and is approaching a local support trendline. On-chain data shows increasing supply pressure, as Centralized Exchanges experience higher inflows. Economically, there’s a risk of further losses for Pi, indicated by a sell signal in the Moving Average Convergence Divergence. The USD is weakening, affecting currency pairs. The EUR/USD is testing the 1.1650 level in European trading, facing resistance at seven-week highs but is supported by ongoing US Dollar selling. Meanwhile, GBP/USD shows a positive trend near 1.3350, benefiting from the overall weakness in the US Dollar. Gold is gaining some traction but remains within its recent weekly range as traders await more data. Market participants are taking a cautious approach with the important economic data coming soon. This data may impact central bank decisions and overall market sentiment. We are preparing for the Canadian jobs report, as the expected rise in unemployment to 7% could put pressure on the Bank of Canada. The central bank has held its policy rate at 4.5% for the last six months of 2025. A weak jobs report may hint at possible future rate cuts, leading traders to consider buying put options on the Canadian dollar, anticipating a decline if the data shows a slowing economy. The ongoing weakness in the US dollar continues to affect currency markets. After the October 2025 US inflation report showed a decrease to 3.1%, we can see how changes in rate expectations can keep the dollar weak for months. This environment makes buying call options on EUR/USD and GBP/USD a good strategy for potential gains. Gold is currently stagnant, and traders are hesitant to commit to a direction before the upcoming data. This indecision, despite the weaker dollar, offers a chance to trade volatility instead of direction. Traders might consider an options strangle, which involves buying both a call and a put, to profit from significant price movements, whether up or down. In the crypto sector, Pi Network shows negative technical signals, with rising supply on exchanges indicating selling pressure. The overall altcoin market has also cooled, with altcoin dominance dropping nearly 3% over the last month. For traders, this could be a chance to short PI perpetual futures, betting on a price decline if it breaks its current support.

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