Tag Archives: labour market

The price of gold has remained in the hands of the bears as the US dollar surged to print a new 20-year high at the start of the week. The negative market sentiment stems from the risks associated with China’s COVID crisis, the Ukraine crisis, supply chain risks and what …

The US Dollar Index (DXY), which tracks the greenback vs. a basket of its main competitors, gives away part of the earlier spike above the 104.00 mark on Monday.Now, the index is gaining 0.21% at 103.87 and the breakout of 104.18 (2022 high May 9) would open the door to …

The New Zealand dollar has been the worst-performing G10 currency in the past month. However, economists at ING expect NZD/USD to climb back toward 0.70 by early 2023 as the Reserve Bank of New Zealand (RBNZ) is set to deliver 200bp of additional tightening by year-end.Key Quotes“The impact of lockdowns …

The EUR/USD pair trimmed some of Thursday’s losses, and it is set to finish the week on the right foot, snapping four consecutive weeks of losses amidst a risk-aversion environment in the financial markets. At 1.0552, the EUR/USD edges up some 0.13%.Risk aversion lifted the low-yielder EUR, despite broad US …

The US has gained 428,000 jobs and wages are up 5.5% year, roughly within expectations. Higher wages impact the kind of inflation that Fed can control. Faster rate hikes are firmly on the Fed’s agenda, benefiting the dollar. Job growth also looks healthy. Even when subtracting the downward revisions worth …

Data released on Friday showed the Canadian economy created 15.3K jobs in April below the 55K of market consensus. Analysts at CIBC, point out that investors judged that the slight disappointment of the jobs data won’t change the expected course of Bank of Canada interest rate hikes.After sprinting ahead in …

The precious metal prepares to finish the week with losses near 0.60% as high US Treasury yields, led by the 10-year, around 3.12%, keep gold prices under pressure. Gold persists downward pressured, and it seems that it would finish the week with losses of around 0.60%, extending its fall from …

Major US indices have bounced from earlier intra-day lows hit after strong US jobs data, but are still lower. The latest NFP report was deemed as easing US growth weakness concerns and strengthening Fed tightening conviction. After testing multi-month lows printed earlier in the week following strong US jobs data, …

US worker productivity fell at its steepest pace since 1947 in the first quarter, while growth in unit labour costs accelerated, indicating that rising wage pressures will continue contributing to keeping inflation elevated for a while. Nonfarm productivity, which measures hourly output per worker, plunged at a 7.5% annualized rate …

There were 200,000 initial jobless claims in the US in the week ending on 30 April, according to the latest data released by the Department of Labour on Thursday. That was above expectations for a slight rise from 181,000 in the prior week to 182,000. That brought the four-week average number …