On Friday 4 February, the US official employment report will be released. Market consensus is for an increase in payrolls of 155K while Wells Fargo expects a decline by 100K. They anticipate average hourly earnings to rise by 0.6% during January.Key Quotes: “In recent months, there have been substantial revisions …
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The NZD/USD pair is enjoying a modest rebound from the 14-month lows it struck last Friday amid improved risk appetite. Traders will have plenty of US data, Fed speakers’ statements and remarks, in addition to Q4 NZ jobs data to monitor this week.A more risk-on mood in global equity and …
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Activity at factories in the U.S. Midwestern region defied expectations by gaining momentum in January. The Chicago purchasing managers’ index (PMI) delivered a fresh reading of 65.2, indicating manufacturing expansion accelerated in the first month of 2022, rising from December’s upwardly revised 64.3 and coming in well above the 61.7 …
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The Reserve Bank of Australia will meet on Tuesday, 1 February, forecasts by the economists and researchers of eight major banks regarding the upcoming central bank’s decision are worth considering. The RBA is expected to end its pandemic-related bond-buying program while market participants speculate policymakers will bring forward rate hikes’ …
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The price of gold fell on Monday and is heading to record the largest monthly decline since September, while the markets expect to raise the US interest rate on the back of economic data, and the rise of the dollar affected the price of gold. Spot gold prices are trading …
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US Data released on Friday showed the Employment Cost Index (ECI) rose 1% during the fourth quarter, and 4% during the year. Analysts at Wells Fargo point out the quarterly increase was more restrained than Q3’s 1.3% gain, and they consider that may tamp down fears of a wage-price spiral …
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US Treasury yields ended Friday’s trading in a bearish trend, affected by the relative stability in US inflation rates, which was reflected by fresh data. Bond yields for ten years fell to 1.782%, compared to the last daily close, which recorded 1.804%.Economic DataThe oil and gas rig count, an early …
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The EUR/USD pair is under heavy downward pressure, as the pair eyes May 2020 swing lows. The EUR/USD’s bulls failure to defend 1.1100, it would open the door towards 1.0775.After holding above 1.1200 for too many days before USD bulls launched an attack to 2021 yearly low, however, the shared …
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Market observers believe the FOMC will announce the commencement of balance sheet reduction at the July 27 meeting. They look for the Federal Reserve to hike the Fed Funds rate by 125 bps in 2022.It is likely that the Committee will hike rates by 25 bps at the March 16, …
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Gold climbed to its highest level since November at $1,853 on Wednesday but ended up losing more than 3% from that level to end the week deep in the negative territory below $1,800. Nonfarm Payrolls are forecast to rise by 238000 in January. The low bar suggests that there is …
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