“New Federal Reserve News Agency”: The Fed is expected to remain on hold next week, and the view that interest rates will be cut quickly next year is being challenged
Nick Timiraos, a well-known financial journalist, pointed out that the 199,000 new jobs are the second month in a row that employment growth has fallen below the 2023 average. The labor market “remains stable, but is gradually cooling down.” The latest non-farm payroll report challenges the view that the US will cut interest rates quickly next year. There are no obvious signs that the Fed will switch to what is needed. Former US Treasury Secretary Summers echoed this view.
The US dollar index recovered some of its losses, technical analysis of the European pound, Japan and Australia
On Friday (December 8), US non-farm payroll data for November showed an unexpected decline in the unemployment rate. US consumer confidence rebounded sharply in early December and exceeded expectations, and the US dollar index rebounded slightly. EUR/USD was boosted by strong bearish momentum today. There was little change in GBP/USD. USD/JPY fell and hit the 200-day moving average instantaneously. The AUD/USD pair settled above the 200-day moving average.
Wall Street Today | US Stocks Boosted by Payrolls, Inflation Expectations
US stocks rose as the job market remained resilient. Consumer expectations also added to signs that prices are cooling in prices, fueling hopes that the Federal Reserve can achieve its 2% goal without breaking the economy.
US Stocks Rise Moderately After Stronger-Than-Expected Jobs Growth, Hourly Earnings
US benchmark stock indexes traded moderately higher and government bond yields jumped after the economy added more jobs than expected in November, while the unemployment rate unexpectedly declined. Th
Nomura: “Three reasons” support the Fed's early interest rate cut next year and end QT after confirming the recession
Nomura believes that the current trend of slowing inflation has not changed, and policy interest rates are higher than neutral interest rates, so it is reasonable for the Fed to cut interest rates ahead of schedule. The Federal Reserve is unlikely to cut interest rates by more than 25 basis points each quarter before the recession begins in the third quarter of 2024, but it will speed up the pace of interest rate cuts after confirming the recession in September of the same year.
Agencies comment on the non-agricultural sector in November: the decline in the unemployment rate is far from the level triggered by the “recession indicator”, lowering expectations of the Fed's interest rate cut
Despite more people entering the labor market, US employment growth accelerated in November, and the unemployment rate fell to 3.7%, indicating the potential strength of the labor market. The US Department of Labor Bureau of Labor Statistics (BLS) said in a high-profile employment report on Friday that the number of non-farm payrolls increased by 199,000 last month. The return of auto workers and actors after the strike boosted employment to some extent. The data for October has not been revised, showing 150,000 new jobs have been added.
US session: 6 major currency pairs, US dollar index and gold resistance/support levels
This article provides support and resistance levels for the US dollar index, the euro, the British pound, the yen, the Swiss franc, the Australian dollar, the Canadian dollar, and gold.
US Dollar Clings on to Weekly Gains Despite Downside Pressure From Yen
The US Dollar (Index) dropped over 0.50% overnight after the Yen appreciated 4% in one day.
Dutch International Group: The Fed is expected to cut interest rates by 150 basis points in 2024
Market pricing The Federal Reserve will cut interest rates sharply by 125 basis points in 2024, but Dutch International Group warns that the hawkish camp may attack the market again and may stick to the forecast of cutting interest rates by 50 basis points.
The Fed will frantically cut interest rates by 125 basis points next year? Take a look at the forecasts of 102 investment banks in one picture
There is no more important factor for the market than the Federal Reserve. The market is betting on when the Fed will cut interest rates. The Federal Reserve will now issue its last policy statement within 2023, which may cause market fluctuations at that time. How will the Fed's interest rate move in 2024? One picture clearly shows the expectations of 102 investment banks.
When “gambling interest rate cuts” meet non-farm night, the market needs a reason to continue to “run away from the Federal Reserve”
Goldman Sachs pointed out that if the non-agricultural sector is strong, the recent market trend will reverse and reduce concerns about the economic slowdown, and the market may reprice the probability of interest rate cuts in March to 50%. If there is overall weakness, the market may continue the recent trend, and may even begin to consider that the Fed may cut interest rates in January or cut interest rates by 50 basis points in March.
US Nonfarm Payrolls to Rebound to 230K in November – TDS
Analysts at TD Securities (TDS) offer a sneak peek at what they expect from Friday’s United States (US) labor market report for November.
Forex Today: US Nonfarm Payrolls to Ramp up Volatility Ahead of the Weekend
The US Dollar (USD) weakened against its major rivals as risk flows returned to markets on Thursday, with the USD Index snapping a three-day winning streak.
US Treasury Sec. Yellen: Satisfied With Performance of US Economy and the Fed
US Treasury Secretary Janet Yellen spoke earlier in the Asian session on Friday, appreciating the US economic resilience and the Federal Reserve’s (Fed) strong performance.
Keep on absorbing money! The assets of the US monetary fund rose to 5.898 trillion US dollars, another record high
In the week ending December 6, about US$61.7 billion flowed into US money market funds. Total assets increased to $5.898 trillion from $5.836 trillion the previous week.
Decreased for six weeks in a row! US mortgage interest rates fell to their lowest level since mid-August
In the past week, US mortgage interest rates fell to their lowest level since mid-August, and have declined for the sixth consecutive week since the decades-long high in October
Wall Street Today | US Stocks Gain Buoyed by AI Rally
US equities gained Thursday as investors await the employment report that could offer clues whether the labor market is cooling enough to give the US Federal Reserve leeway to start cutting interest rates next year.
US Expected to See 'Moderate' Economic Slowdown in 2024 First Half, Wells Fargo Investment Institute Says
The US economy is likely to see a "moderate" slowdown in the first half of 2024, leading to a cooling in inflation and potential monetary-policy easing, followed by an economic recovery in the latter part of the year, Wells Fargo Investment Institute said Thursday.
October US Consumer Credit Posts Smaller-Than-Expected Gain
US consumer credit use rose $5.2 billion in October, compared with an $8.5 billion increase expected in a survey compiled by Bloomberg and following an upwardly revised $12.2 billion increase in the previous month.
November US Nonfarm Payrolls Expected to Rise by 185,000; Unemployment Rate Seen Remaining at 3.9%
US nonfarm payrolls are expected to rise by 185,000 in November after an increase of 150,000 jobs in October, while the unemployment rate is forecast to hold steady at 3.9% after advancing to that point in the previous month, a survey compiled by Bloomberg shows.