Tag Archives: labour market

Jerome Powell said that the US “labour market remains very tight” and that demand still and that demand for labor “substantially exceeds supply of available workers.”However, the Fed chair did note that the labor market is not as hot as it was last year. “There are some continuing signs that …

The GBP/USD pair dropped in early trading due to strong US dollar strength, driven by upbeat UK retail sales data. The recent UK inflation report repricing of the Bank of England’s interest rate expectations led to a 50% chance of a 50 bps rate hike projected by the swaps market. …

Tesla and Netflix’s spring profits have delayed Wall Street’s advance after the two tech-focused businesses who announced their spring profits. Despite better-than-expected profit and revenue, Tesla’s stock fell 9.7%, and analysts think that investors may be worried about the electric vehicle manufacturer’s profitability following price cuts. The summertime shutdown of …

Initial applications for unemployment insurance reached 228,000 in the week ending July 15, according to the US Department of Labor’s (DOL) release of weekly data on Thursday. Since early May, this reading is the lowest. The print came in below/above market forecasts of 242,000 and follows the prior week’s 237,000 …

Stocks surged as another significant inflation reading came in lower than anticipated. The Dow Jones Industrial Average gained 47.71 points, or 0.14%, to close at 34,395.14, while the S&P 500 rose 0.85% to reach 4,510.04, marking the S&P 500’s highest closing level in more than a year. The Nasdaq Composite …

The number of Americans filing new applications for unemployment benefits unexpectedly fell last week, indicating a persistent labor shortage in some sectors of the market even as job growth slowed. On Thursday, the Labor Department said first-time jobless claims fell by 12,000 jobs to 237,000 when adjusted for seasonal factors …

In an interview with CNBC on Friday, Chicago Federal Reserve Bank President Austan Goolsbee said that they don’t need a recession to eliminate inflation concerns, per Reuters.These comments were not able to help the US Dollar find demand. As of writing, the US Dollar Index was down 0.72% on the …

The US Dollar posted mixed results, weakening versus the Euro, the Pound, and the Yen, and rising sharply against commodity currencies. Upbeat US data boosted expectations of another interest rate hike from the Federal Reserve (Fed) and weighed on US stocks. The deterioration in market sentiment and lower commodity prices …

Gold has experienced a 0.20% loss due to robust US job readings and mounting rate hike expectations, driving US Treasury yields higher. Dallas Fed President Lorie Logan’s hawkish comments and a strong ADP report support the expectation of a July rate hike. Traders anticipate further clues from the upcoming US …

The majority of economists tend to be more optimistic when it comes to the number of jobs added in the US last month. However, that could be an overcorrection due to continually underestimating the labour market’s strength this year. However, there are other elements that make forecasting Friday’s release a …