Jump to content

USD: US jobs in focus for Fed’s next rate move

Recommended Posts

US employment data will be in focus this week with a set of indicators that could give us more clues on what the US Federal Reserve will do next with interest rates.



 Angela Barnes | Financial presenter/producer, London | Publication date: 

On Tuesday, JOLTs job openings are forecast to fall to 9.35 million in October. On Wednesday, the ADP survey should show that 128,000 jobs have been created in the private sector in November – and on Friday, its non-farm payrolls (NFPs). Economists anticipate 180,000 job creations in November. That is 30,000 more than in October, but 30,000 is also the number of workers that have returned to work from the UAW strikes. A soft job report would reinforce the message that the Fed's work is done.

The US employment data

This week, we’re focusing on the US employment data, which will give us a better idea of what the Federal Reserve might do next. Experts think that this data will show more problems in the job market. On Tuesday, we'll get the jolts job openings report, which is expected to show a drop to 9.35 million job openings in October. Then on Wednesday, the Automatic Data Processing (ADP) survey will probably tell us that about 128,000 new private sector jobs were created in November. This is better than the previous month, but still one of the weakest months of the year. Finally, on Friday, the non-farm payrolls report is likely to say that about 180,000 new jobs were added in November, which is 30,000 more than in October. However, this number includes 30,000 workers who went back to work after going on strike. If the job report is weak, it would mean that the Federal Reserve has done all they can to fix things.

The US dollar

On the other hand, if the numbers are better than expected, it could make the USD stronger. Looking at the US dollar price chart, it's showing slight improvements right now, even though it had three weeks of losses recently. Currently, it's up by 0.23% compared to other major currencies today. To sum it up, the upcoming US employment data will give us more information about the job market and will affect what the Federal Reserve does next. Economists think this data will show more problems in employment. If the job report is not good, it would support the idea that the Federal Reserve has done what they can. But if the numbers are better than expected, it could make the US dollar stronger.




This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • I'm intrigued by NADA Protocol's vision of integrating blockchain technology into the gaming experience. The prospect of owning and trading in-game items through NFTs adds an exciting dimension to gameplay, offering real rewards and enhancing immersion. The marketplace controlled by the NADA token seems promising, providing a platform for users to engage in trading activities within the gaming ecosystem. I'm optimistic about NADA's potential to carve a niche for itself in the competitive gaming world, especially with its focus on creating a fun and economically rewarding gaming environment. Looking forward to exploring this new gaming frontier!
    • I see DIMO's innovative platform as a game-changer in the automotive industry, offering a new level of connectivity and transparency. With DIMO, I can envision having access to valuable vehicle data that can enhance my driving experience and provide me with insights into the car's condition. This not only makes the car-buying process easier but also instills confidence in the vehicle's history and performance. Moreover, the listing of DIMO's native token on Bitget exchange is exciting news as it will create more exposure for the project, potentially leading to further advancements and adoption in the automotive space.    
    • The growth trajectory and innovative approach of Autonolas are indeed impressive, signaling its potential to disrupt both the crypto and AI sectors. With its unique blend of off-chain services and AI capabilities, Autonolas has positioned itself as a key player in the evolving landscape. Furthermore, the listing of its utility token OLAS on Bitget exchange, coupled with a favorable price trend and deposit rebate, adds to the project's appeal and growth prospects. Exciting times ahead for Autonolas and its investors.
  • Create New...