As a new month starts, investors will have their eyes locked on the latest nonfarm payrolls numbers out of the United States amid an accelerating selloff in bond markets. The Reserve Bank of Australia’s policy meeting will be the only central bank gathering of the week but is unlikely...
The USD retreated against a number of its counterparts on Friday and during today’s Asian session as worries for the rebound of the US employment market tended to resurface after a relative euphoria for the comeback of the US economy. Despite the unemployment dropping and the NFP figure landing...
Weak NFP sends dollar broadly lower
The US dollar fell heavily after a weaker than expected Non-Farm Payrolls on Friday. Although the US yield curve steepened, rises in yields in the long-end were offset by falls in yields at the short-end, making it US dollar neutral. The dollar index traced...
Asian markets follow Wall Street gains
Asian markets have started the week on a positive note, as a disappointing US Non-Farm Payrolls on Friday couldn’t damp the stimulus-infused enthusiasm of Wall Street. The news front was relatively quiet over the weekend as far as market impact goes, leaving the road...
Disappointing US jobs report knocks dollar down
Yet, bad economic news is good news for stimulus and stocks
Disappointing vaccine news go unnoticed, inflation on the radar
Softer labor market strengthens case for tremendous relief
The US employment report fell short of expectations, feeding the narrative that the recovery in...
A weak NFP report and increased odds that Biden's stimulus package is to be rolled out later this month propelled equities to new highs and slammed the dollar on Friday.
It was another strong finish for global equities, with most global benchmark indices closing at or near record highs. The...
US stocks are shrugging off a disappointing nonfarm payroll report that showed December was much worse and that January only saw a modest rebound in hiring. Stimulus prospects are unchanged as Democratic lawmakers appear poised to move President Biden's $1.9 trillion stimulus bill forward without Republican support. Stocks are...
Non-farm payroll employment rose 49k; weakness again concentrated in the hospitality sector
The unemployment rate dipped lower to 6.3%; labour force participation held steady
Household income to rise in January, alongside savings rate
US payroll employment grew 49k at the turn of the year, despite further job losses in...
Dollar drops broadly in early US session after much smaller than expected non-farm payroll job growth, even though unemployment dipped notably. Canadian Dollar is some what pressured today after larger than expected job losses. But Yen is the one following the greenback as second weakest. Australian Dollar and Euro...
US non-farm payroll employment rose only 49k in January, well below expectation of 85k. "Notable job gains in professional and business services and in both public and private education were offset by losses in leisure and hospitality, in retail trade, in health care, and in transportation and warehousing."
However, unemployment...
On Thursday, the announcement of the results of the meeting of the Bank of England was an important event of the day, which left interest rates at the previous level of 0.1% and the volume of bonds redemption at £875 billion.
The Bank of England announced that the UK economy...
Rising hopes that vaccinations will soon bring an end to lockdowns fuel global equities
Dollar eases slightly but USD bulls may have already reawakened; NFP eyed
Pound jumps after BoE says negative rates not imminent, euro steadies
Stocks gripped by normalization hopes
Progress in the global vaccination campaign and expectations...
US dollar boosted by yield curve steepening
The rise in the US 30-year yields overnight gave the dollar short-squeeze renewed momentum. The dollar index rose by 0.40% to 91.50, lifting it well clear of support at 91.00. The euro and yen were notable index component casualties. EUR/USD has fallen 0.60%...
US futures point to more record highs.
Positive NFP surprise should boost risk sentiment.
Gold's death cross appears imminent.
Global markets are now revisiting a familiar script, with investors pushing broad asset classes higher on more signs pointing to the US economic recovery.
Stock markets Stateside posted new record highs...
Markets
The established uptrend in equities continued yesterday as investors anticipated a reopening of the economy in a context of persistent easy monetary and fiscal conditions. Good corporate results added to the move. European equities gain about 1%. Major US indices rose between 1.08% (Dow) and 1.23% (Nasdaq), with the...
Market movers today
US non-farm payrolls are expected to increase around 100k. The labour market is still suffering from weakness in the service sector, where most of the jobs are and have been lost as well. The labour market will be challenged until the economy can open up fully...
The Japanese yen declined against the US dollar even after Japanese household spending data. According to the country’s statistics bureau, household spending in the country rose by 0.9% in December after dropping by 1.8% in the previous month. This increase was better than the expected decline of 1.9%. The...
Return of risk-on markets, after some solid economic data, pushed S&P 500 and NASDAQ to new record highs overnight. Yen and Swiss Franc trade broadly lower naturally but Euro was not far behind. Commodity currencies, while firm, are so far overwhelmed by Sterling and Dollar. In particular, the greenback...
Dollar is currently trading as the strongest one for the week and stays firm, as focus turns to non-farm payrolls report from the US. Markets are expecting 85k job growth in January, while unemployment rate would stay at 6.7%.
Looking at some employment related data, ADP private job growth surprised...
Firmer US data overnight helped propel the dollar and further confound bears who remain positioned for a deeper macro sell-off.
The Dollar Continues to Squeeze Bears with Firmer US Data
GBP and USD were strongest majors overnight, CHF and JPY were the weakest majors overnight.
Firmer US data strengthen the...
One of the closely-watched macroeconomic numbers is due for release on Friday as the US Bureau of Labor publishes the nonfarm payrolls report. Traditionally, this monthly jobs report has been one of, if not the biggest, data release in terms of its impact on the markets. But over the...
Background
After last month’s rather depressing Non-Farm Payroll report, which itself closed out one of the more depressing weeks in US weeks in US history, there are some signs that this month’s jobs report could bring cause for optimism.
Most Americans received desperately-needed $600 stimulus checks in January (and there’s increasing...
Throughout the past several months, a risk rally ordinarily meant a weaker US Dollar. The DXY index, which measures the greenback’s value against a basket of six world currencies, slid 6.7% in 2020 recording its second worst annual performance since the global financial crisis. Global expansionary monetary and fiscal...
What are non-farm payrolls?
Non-farm payrolls (NFP) are monthly measurements of how many workers there are in the US, excluding farm workers and a few other job types such as government workers, private households and non-profit employees.
The data is collected on a monthly basis by the Bureau of Labor Statistics...
The US employment report for January will hit the markets at 13:30 GMT Friday. Forecasts point to another soft report, which would confirm that the labor market recovery is plateauing. But that may not be as bad as it sounds for markets, as another disappointment could pressure the politicians...
The US Non-Farm Payrolls reports showed that the US economy lost 140,000 jobs during the month of December vs an expectation of +71,000. However, the revision to the November print was +336,000, and increase of 91,000. Because of the revision, the NET NFP number for December was -49,000. Therefore,...
The labor market recovery hit a brick wall in December as the winter virus surge continues to weigh on businesses. The negative December nonfarm payroll report was expected as COVID lockdowns pummeled 498,000 leisure and hospitality jobs. Investors are shrugging off this disappointing NFP report as the implications incrementally...
Nonfarm payrolls fell by 140k in December, below market expectations for a 71k gain. The unemployment rate remained unchanged from November at 6.7%.
Unsurprisingly, the biggest losses were in the leisure and hospitality (-498k), concentrated in bars and restaurants (-372k). Employment in the sector remains 23% lower than...
Dollar appears to be turning weaker again after non-farm payroll report showed the first contraction since April. Euro is currently following as second weakest for the than, than Canadian, which was also weighed down by employment data. On the other hand, Sterling is starting to reverse some of this...
US non-farm payroll employment contracted -140k in December, well below expectation. That's the first decline in jobs since April. Though, prior month's figure was revised up from 245k to 336k.
Unemployment rate was unchanged at 6.7%, below expectation of 6.8%, with 10.7m people unemployed. Labor force participation rate was unchanged...
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