Category: Jobs
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Australia’s Telstra to axe up to 2,800 jobs by year-end to cut costs By Reuters
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(Reuters) – Australian telecommunications company Telstra (OTC:) said on Tuesday it would cut up to 2,800 jobs from its direct workforce by the end of this year, as part of its proposed measures to streamline operations and cut costs. Telstra said consultations on 377 of these roles would begin immediately,…
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North Koreans stole Americans’ identities and took remote-work tech jobs at Fortune 500 companies, DOJ says
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The Justice Department on Thursday announced the arrest of three people in a complex stolen identification scheme that officials say generates enormous revenues for the North Korean government, including its weapons program. The scheme involves thousands of North Korean IT workers, who prosecutors say were sent by the government to…
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Australian Economy Added 38.5K Jobs in April, But Jobless Rate Ticked Higher
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Australia’s employment change figures for April beat estimates, showing a 38.5k increase in employment versus an expected increase of 22.4k. This also represents a strong rebound compared to the previous 5.9K decline in employment. However, the unemployment rate rose from a negatively adjusted 3.9% to 4.1% instead of holding steady,…
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U.K. Economy Shed Fewer Than Expected Jobs in April, Wages Beat Estimates
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The latest UK employment report was mostly better than expected, with the economy losing just 8.9K jobs in April versus an estimated decline of 13.9K jobs. In addition, previous readings enjoyed notable improvements, reflecting flexibility in the labor market and strong wage inflation. Change in the number of claimants in…
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FX Watch: GBP/USD’s Downtrend Opportunity Ahead of the U.K. Jobs Report
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The pound is testing downside resistance levels ahead of UK labor market data! If you’ve read our latest Weekly Forex DigestYou will know that the US dollar has found some support as more Fed officials announced that they are in no rush to cut interest rates soon. Meanwhile, at least…
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Week Ahead in FX (May 13 – 17): U.S. Inflation Plus U.K. And Australia’s Jobs Reports
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The US Dollar is in for another busy week as Uncle Sam publishes the latest inflation reports! Meanwhile, labor market updates from the UK and Australia are expected to increase volatility for the British pound and Australian dollar. We’ve got a diary on this week’s most watched data releases! Before…
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Newsquawk Week Ahead: Highlights include US CPI, US Retail Sales, UK and Australian Jobs
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Next week May 13-17: He sat down: Chinese inflation (April) Monday: Eurogroup meeting, New Zealand inflation expectations (Q2) Tuesday: OPEC monthly report, German final CPI (April), UK jobs report (April/March), German ZEW survey (May), US PPI (April) married: People’s Bank of China (PBoC) Multilateral, Riksbank Minutes, IEA OMR, Australian Wage…
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France wins jobs at Morgan Stanley and other investments ahead of key summit By Reuters
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Written by Sudip Kar Gupta PARIS (Reuters) – France said Morgan Stanley will open a new European office in Paris, while two other firms announced a joint investment of 700 million euros ($753.8 million), as the country prepares to host an important annual foreign investment summit. Wall Street bank Morgan…
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Dollar steadies as traders eye Federal Rate path following soft U.S. jobs data By Investing.com
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Investing.com – The US dollar steadied on Monday after falling the previous week on weaker-than-expected non-farm payrolls data, prompting traders to raise the timeline for possible interest rate cuts from the Federal Reserve this year. At 04:31 EDT (08:31 GMT), US Dollars, which tracks the greenback against a basket of…
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Stock market today: Asian shares track Wall St’s advance fueled by cooler jobs data
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Breadcrumb links BMN Business Article writer: Associated Press Zimo Zhong Published on May 6, 2024 • 2 min read You can save this article by registering for free here. Or log in if you have an account. Article content Most Asian stocks rose on Monday after Wall Street ended last…
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Dollar drops as employers add fewer jobs than expected in April By Reuters
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Written by Karen Brettell NEW YORK (Reuters) – The dollar fell to a three-week low against the yen on Friday after data showed U.S. job growth slowed more than expected in April and annual wage gains slowed, raising bets that the Federal Reserve (the U.S. central bank) will cut… Interest…
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Fed’s Goolsbee: Jobs reports like this will give us confidence the economy not overheating
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The more jobs reports you get this way, the more confident we are that the economy isn’t overheating A bump in inflation hit at the beginning of the year The more we see jobs reports that look like pre-Covid, the more confidence there will be that the economy is not…
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USDCAD bounces back higher after sellers had their shot and missed after the softer jobs.
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The US dollar fell against the Canadian dollar after a weaker than expected US jobs report. That downward movement stopped against the old ceiling area between 1.36049 and 1.36154. The price started to bounce back to the upside. The move to the upside was able to expand back above the…
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EURUSD sets technical levels in the ups and downs after the US jobs report.
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EURUSD rose sharply after the US jobs report, and in the process extended above the 50% midpoint of the move down from the March high and also the 200-day moving average (at 1.0797 currently). The price extended above those levels and the top of the swing zone up to 1.08036.…
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Newsquawk Week Ahead: Highlights include RBA, BoE, BoJ SOO, Canada Jobs, UK GDP
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Mon: UK Bank Holiday; EZ Final Composite & Services PMIs (Apr), Sentix (May) Producer Prices (Mar). Tue: RBA Announcement, EIA STEO; Swiss Unemployment (Apr), German Trade Balance (Mar), EZ Construction PMI (Apr). Wed: Norges Bank H1 Financial Stability Report, Riksbank Announcement, BCB Announcement; German Industrial Output (Mar), Italian Retail Sales…
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Forexlive Americas FX news wrap 3 May: US jobs report weaker than expectations this month.
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US March employment data came in below expectations at 175K versus estimates of 243K. The prior month was revised higher to 315K from the previously reported 303K. The unemployment rate rose to 3.9% from 3.8%, while average hourly earnings reached 3.9% year over year, the lowest level since 2021. The…
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Bitcoin bounces back after soft jobs report, crossing $60K threshold (BTC-USD)
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Omedia/E+ via Getty Images Bitcoin (BTC-USD) rebounded on Friday after a weak US jobs report eased concerns about higher interest rates for a longer period. Largest cryptocurrency by market cap (BTC-USD) jumped 4% to $61.7K at 3:27 PM ET, compared to $59.1K that had changed hands in just minutes. Before…
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AUDUSD runs higher after US jobs report but stalls at a key ceiling.What next technically?
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AUDUSD rose sharply after the US jobs report. The price rise pushed the pair above the 100-day moving average at 0.6580, a 50% move down from the December high of 0.66159 and up to the ceiling of the key swing zone between 0.6335 and 0.6345. Sellers built on this ceiling…
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April US jobs report shows looser labor market, good news for Fed By Reuters
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(Reuters) – U.S. job growth slowed more than expected in April and annual wage gains slowed, signs of a more resilient labor market that are good news for markets and the Federal Reserve, which will likely require more of these signals before shifting from higher policy to higher policy. Longer…
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Dow jumps as Apple looks to jumpstart jobs day party
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The Dow Jones led US stocks higher on Friday, as upbeat earnings from Apple lifted spirits awaiting the monthly jobs report, a crucial test of interest rate expectations. Dow Jones Industrial Average (^DJI) futures jumped 0.8%, or 320 points, while S&P 500 futures (^GSPC) rose 0.4%. Futures on the tech-heavy…