Category: Jobs
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FX Watch: AUD/NZD and AUD/CHF Bullish Setups on Tight Aussie Jobs Data
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Our events guide to the September Australian jobs report suggests that jobs growth may continue, albeit at a slower pace. Stronger than expected numbers will support the RBA’s stance that the labor market remains tight, giving the central bank more reason to stick to its less pessimistic bias compared to…
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International Investment Summit delivers £63bn boost and 38,000 jobs for the UK
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The UK is set to create nearly 38,000 jobs and attract £63 billion in investment following the International Investment Summit, which focused on infrastructure, technology and net zero initiatives. This year’s record total is more than double the £29.5bn secured at last year’s Global Investment Summit. The government attributed the…
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International Investment Summit delivers £63bn boost and 38,000 jobs for the UK
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The UK is set to create nearly 38,000 jobs and attract £63 billion in investment following the International Investment Summit, which focused on infrastructure, technology and net zero initiatives. This year’s record total is more than double the £29.5bn secured at last year’s Global Investment Summit. The government attributed the…
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USDCAD bounces after stronger jobs report on Friday. Trend higher continues. What next?
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USD/CAD bounces higher after some strengthening on Friday following a stronger than expected Canadian jobs report. Technically, the price has moved into the swing zone between 1.3784 and 1.38036 (see red numbered circles on the chart below). That zone goes back to April 2024. The price also moved away from…
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Thousands of UK Boeing jobs at risk as manufacturer plans global cuts
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More than 4,000 Boeing employees in the UK face uncertainty, as the US aerospace giant prepares to cut 17,000 jobs globally, nearly 10% of its workforce. Boeing’s UK operations, including its only European manufacturing facility in Sheffield, may be affected by significant job cuts, as the company faces financial challenges.…
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USDCAD is snapping back higher after a stronger jobs report. Buyers back in control
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USD/CAD has been trending higher since bottoming on October 2 near 1.3472. Momentum over the past eight trading days has pushed the price to a high of 1.37826. Taking that price to the bottom of the next targeted swing zone between 1.3784 and 1.38036 (back to April 2024 – see…
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Boeing to cut 17,000 jobs, delay first 777X jet as strike hits finances By Reuters
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Written by Alison Lambert and David Shepardson (Reuters) – Boeing Co plans to cut 17,000 jobs – 10% of its global workforce – delaying the first deliveries of its 777 – Long strike. CEO Kelly Ortberg said in a letter to employees that the significant downgrade was necessary “to adjust…
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Forexlive Americas FX news wrap: Canadian jobs beat but CAD down for eighth day
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Markets: Gold rose $26 to $2,655 The yield on US 10-year bonds fell by one basis point to 4.08%. West Texas Intermediate crude fell 30 cents to $75.56 The New Zealand dollar advances, and the Japanese yen lags The S&P 500 rose 0.7%, reaching a new record high Friday has…
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More from Fed’s Musalem – Jobs report did not cause a change in outlook
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates more risk and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience and risk tolerance. You may lose some or…
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Strong jobs report to lift cyclical stocks, says Morgan Stanley By Investing.com
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Investing.com – Resilient U.S. labor market data and expectations for a series of quarter-point interest rate cuts from the Federal Reserve warrant a shift into cyclical stocks, according to analysts at Morgan Stanley. In a note to clients on Monday, analysts added that following the jobs numbers, investors have become…
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Asian shares climb after blockbuster US jobs report
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Asian stocks rose on Monday after a surprise rally Strong US jobs report This led to increased optimism about the economy, which led to higher prices on Wall Street. US futures fell and oil prices also fell. Japan’s Nikkei 225 index rose 1.9% to 39,354.63 after the yen fell against…
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Goldman Sachs on well above expectations US jobs report, see a 25bp Fed November rate cut
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Data linked from here: The jobs report came out very clear, beating even the highest estimates: (Note: If you don’t read posts like this from Giuseppe and I before important US economic releases, you will be blind) I’ve already posted some responses: And if you haven’t seen it, Goldman Sachs…
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Fed’s Goolsbee: This is a super jobs report
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The end of the port strike is another good news The Fed doesn’t want to interact too much with a single data point If we get more jobs reports like this, we will be more confident that we are stabilizing at full employment A strong jobs report likely means strong…
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USDCHF breaks out. The pair surges outside the “Red Box” after stronger US jobs report
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The US jobs report sent USD/CHF finally out of the bullish and bearish trading range that had mostly confined the pair between 0.8399 and 0.85368. The price was trading near 0.85166 before the report was released, and has now risen to 0.8607. At the top, the price experienced a 61.8%…
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Strong jobs report propels dollar to best week since 2022 By Reuters
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Written by Karen Brettell NEW YORK (Reuters) – The dollar jumped to a seven-week high on Friday and was on track to record its best week since September 2022 after a surprisingly strong September jobs report prompted traders to scale back their bets that the Federal Reserve would raise $50.…
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Ed Yardeni sees Fed pausing rate cuts for 2024 after jobs report
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The Fed’s 2024 easing campaign may already be over Strong business report Friday highlights the stubborn resilience of the world’s largest economy, according to Wall Street veteran Ed Yardeni. Further policy easing would risk sparking inflation as oil prices rebound and China seeks to stimulate its economy, according to the…
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US major indices close the day higher helped by strong jobs
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US stocks rose despite rising yields as US jobs showed strength and striking dockworkers reached a tentative agreement to avoid a long-term closure of the main port. A snapshot of the closing levels is shown: The Dow Jones Industrial Average rose 341.16 points, or 0.81%, to 42,352.75 points. The Standard…
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Forexlive Americas FX news wrap 4Oct:US jobs report is strong. USD, yields and stocks rise
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The US September jobs report beat expectations today, with non-farm payrolls rising by 254,000 compared to expectations of 140,000. The unemployment rate decreased slightly to 4.1%, approaching 4.0%, and the participation rate stabilized at 62.7%. Private sector payrolls rose by 223,000, while average hourly earnings rose 0.4% month-over-month and 4.0%…
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Mixed U.S. Jobs Data Triggers Choppy U.S. Dollar Moves
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As markets hotly debate the Fed’s next policy moves, US labor market updates – which Fed members said they are closely following – are likely to increase volatility between major US dollar pairs. Thursday report from Challenger, Gray and Christmas reversed 72,821 planned job cuts in SeptemberThis is slightly lower…
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European Stocks Trade Steady Before US Jobs Data: Markets Wrap
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(Bloomberg) — European stocks and U.S. futures were volatile ahead of key U.S. jobs data that will help determine the course of interest rates. Oil prices fell after escalating tensions in the Middle East led to the largest single-day jump in almost a year. Most read from Bloomberg There was…