Investors expressed clear dissatisfaction with last week’s US non-farm payroll report, not much due to a miss in job growth expectations, but data left the size of the upcoming Fed rate cut unsettled, raising fears that Fed’s indecisive stance could worsen the already fragile economic outlook. In response, US equity markets ended the week sharply
The European Union has successfully avoided the “terrible prophecies” that threatened its economy in recent years, but must still contend with Russia’s war in Ukraine and a tenuous trade relationship with China, outgoing European Commissioner for Economy Paolo Gentiloni said Saturday. The bloc’s economy underwent “overall a weak growth, but nothing of the terrible prophecies
The NZD/JPY pair fell sharply on Friday and reaching a low of 87.85. The RSI has plunged to 36, indicating that the bears are in full control and the negative momentum is likely to persist. Bears have the 87.00 threshold on their sight. The NZD/JPY pair has maintained its bearish stance, extending the selloff that
The USDJPY has seen up and down volatility after the US jobs report and subsequent market volatility. The tumble in US stocks and move lower in yields may have an influence as well as sellers pushed the price lower. Technically however, the low price today at 141.75, 10 apex of the low price from August
Markets: Gold down $20 to $2496 US 10-year yields down 1.4 bps to 3.72%, 2-year yields down 9.3 bps to 3.65% WTI crude oil down $1.07 to $68.08 S&P 500 down 1.7% JPY leads, AUD lags Non-farm payrolls Friday lived up to the hype, though it wasn’t exactly straightforward. The kneejerk reaction to the report
China’s central bank held back on buying gold for its reserves for a fourth straight month in August, official data showed on Saturday. China’s gold holdings stood at 72.8 million fine troy ounces at the end of last month. The value of the gold reserves, however, rose to $182.98 billion compared with $176.64 billion at
The financial markets are in a state of heightened anticipation as the much-awaited US non-farm payroll report is set to release today. This key data set will be critical in assessing whether the US economy is veering towards a recession, following the jump in the unemployment rate in July. For Fed, the NFP data will
Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, March 22, 2024. A trio of central bank decisions this week sent a clear message to markets that officials are preparing to loosen monetary policy, reigniting investor appetite for risk. Bloomberg | Bloomberg | Getty Images
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Friday that Fed officials are finally beginning to catch up with the broader market’s view that the time has come for movement from the US central bank on policy rates, but downplayed discussion of a larger opening cut in September. Key highlights The job
The NZDUSD has moved higher. It is now moving lower in volatile trading as it digests the US jobs report and comments from Fed officials this morning including Feds Waller, Feds Goolsby, and Feds Williams. Stocks are moving lower which is leading to some risk off in the NZDUSD as well. Technically, the pair is
It’s been a ride today between a mixed non-farm payrolls report and Fed commentary. With the cards now all on the table, the market is shifting away from 50 basis points. Odds are down to 23% from as high as 57% in the immediate aftermath of the jobs report. At the same time, there are
Oil pared gains on Friday after data showed U.S. employment increased less than expected in August, and was on track for a heavy weekly loss as demand concerns outweighed a delay to supply increases by OPEC+ producers. Brent crude futures rose 29 cents, or 0.4%, to $72.98 a barrel by 1320 GMT. U.S. West Texas
The August US non-farm payroll report has been interpreted as largely dovish by the markets. Job growth showed clear signs of slowing, but the slight decrease in the unemployment rate has helped ease immediate recession fears. As a result, market expectations for a 50 bps rate cut by Fed this month have now risen above
An attendee takes information about a California State job at a City Career Fair hiring event in Sacramento, California, US, on Wednesday, June 5, 2024. David Paul Morris | Bloomberg | Getty Images The unemployment rate for Black Americans fell in August, according to data released Friday by the Department of Labor. In August, Black
In this article AVGO Follow your favorite stocksCREATE FREE ACCOUNT Broadcom CEO Hock Tan. Lucas Jackson | Reuters Broadcom reported fiscal third-quarter results on Thursday that beat Wall Street expectations for revenue and earnings. Broadcom shares fell 5% in extended trading. Here is how the chipmaking conglomerate did versus LSEG consensus estimates for the quarter
US Dollar recovers ground after mixed August Nonfarm Payrolls data. Fed official downplayed discussions of a larger rate cut in September than 25 bps. Markets are seeing 40% odds of a 50 bps cut in the next Fed meeting. The US Dollar Index (DXY), a measure of the US Dollar against a basket of six
Broadcom will announce earnings after the close. What is expected? EPS $1.22 Revenues $12.979 THe price of Broadcom – like other chip stocks – has been hit over the last few weeks of trading. From the high on August 22 and $172.42, the price has move down to a low of $149.15 reached just yesterday.
With so much scrutiny on the US labour market at the moment, it doesn’t come any bigger than jobs Friday. The non-farm payrolls data is going to be key in deciding how markets end the week. And it won’t be just the headline number, the details are going to matter too – especially the unemployment