Category: Jobs
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US stocks set to open marginally lower after the stronger US jobs report
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US jobs data came in stronger than expected with Non-Farm Payrolls rising by 272K versus estimates of 185K. The unemployment rate rose to 4.0% as the participation rate declined. US yields rose with the 10-year bond yield rising 12.7 basis points to 4.408%. However, the 10-year bond yield rose to…
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Crypto market plunges $96b following strong US jobs report
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In the past 24 hours, the cryptocurrency market lost more than $96 billion as major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), faced corrections. Bitcoin, the leading cryptocurrency, saw a sharp decline to an intraday low of $68,507. At the time of writing, the cryptocurrency was priced at $69,321 –…
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Jobs Report, ECB Rate Cut Deliver Double Whammy
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Friday dealt a double blow to the Bitcoin market, exposing the cryptocurrency’s sensitivity to the ever-shifting sands of the global economy. Price of digital assets It fell below $70,000 After the confusing US jobs report came as a surprise Reducing the interest rate By the European Central Bank (ECB). Leading…
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What will the Fed do after hotter-than-expected jobs report? By Investing.com
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The US job market is still hot. The non-farm payrolls report, released on Friday, showed 272,000 jobs added in May, crushing analysts’ estimates. This divergence from consensus is likely to have a significant impact on the Fed. This rise indicates continued momentum in the labor market. As a result, the…
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Forexlive Americas FX news wrap 7 Jun”: US adds 272K new jobs but unemployment rate rises
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The US jobs report came out stronger, but again there were some ambiguous/less strong elements. Nonfarm Payrolls rose 272K versus estimates of 185K. Private salaries increased by 229,000 compared to 170,000 according to estimates Average hourly earnings increased by 0.4% versus 0.3% expected Average year-over-year earnings increased by 4.1% versus…
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With the Bank of Canada, ECB and jobs in the rear view mirror, the Fed is ahead
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This week, the Bank of Canada and the European Central Bank cut interest rates by 25 basis points each. For each, the initial cut was by the central bank. The Bank of Canada announced its interest rate decision on Wednesday. The central bank has reduced what is seen as restrictive…
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Locked and loaded for the US and Canada jobs report
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The US and Canadian jobs report will be released at the end of the hour. What to expect for May in the United States? Nonfarm Payrolls Estimates 185k (vs. 175k) Private payroll, 170,000 vs. 167,000 last month. Manufacturing payrolls, 5k vs 8k last month The unemployment rate is 3.9% compared…
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What to expect from the US jobs report tomorrow
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The US jobs report will be released at 8:30 AM EST tomorrow. Last month (April), payrolls reached 175,000 which was well below the estimate of 243,000 at the time. The previous month’s revision was -22k. Other details from the April report showed: Unemployment rate 3.9% vs. 3.8% expected (3.8% previously)…
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US ISM Services PMI for May due Wednesday, the ranges of estimates (ADP jobs number too)
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The average consensus estimate for the US ISM Services PMI is 50.5, as can be seen in the screenshot below, from the ForexLive Economic Data Calendar, Access it here. I saw Reuters with its forecast at 50.8. Data outcomes that fall outside of market low and high expectations tend to…
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Euro Nears 1.10 as Market Awaits ECB Meeting and US Jobs Data By Investing.com
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Investing.com – The Euro (EUR) saw a slight rise on Monday, crossing the 1.09 mark against the US Dollar (USD), as traders anticipate potential catalysts that could lead to further rises. Despite the lack of enthusiasm in the FX options market, with one-month implied volatility still at a low of…
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Bank of America lays out the perfect scenario for stocks to rally after the May jobs report
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“We’re hiring!” A sign is displayed at a Starbucks coffee shop on Hollywood Boulevard on June 23, 2021 in Los Angeles, California.Mario Tama/Getty Images The stock market faces a big test this week with the release of the May jobs report on Friday. Bank of America said the moderate range…
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Highlights for next week: Bank of Canada and ECB are expected to cut rates. US jobs report
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Two central banks meet next week and are expected to cut interest rates. The Bank of Canada will announce its interest rate decision at 9:45 a.m. on Wednesday. They are expected to reduce the interest rate to 4.75% from 5.0%. The last policy change was in July 2023 when they…
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World Bank seeks sanctions, jobs for refugees in new Sh158bn loan
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The World Bank has asked the government to impose sanctions on Cabinet ministers, governors and CEOs of parastatals that continue to pay canceled concessions as part of conditions for a 157.8 billion shillings ($1.2 billion) loan to Kenya. The Washington-based bank also asked the country to lift its ban on…
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World Bank seeks sanctions, jobs for refugees in new Sh158bn loan
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The World Bank has asked the government to impose sanctions on Cabinet ministers, governors and CEOs of parastatals that continue to pay canceled concessions as part of conditions for a 157.8 billion shillings ($1.2 billion) loan to Kenya. The Washington-based bank also asked the country to lift its ban on…
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AI displacing 50% of jobs by 2027 is ‘uncannily accurate’: Kai-Fu Lee
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Years before OpenAI’s ChatGPT showed the world what generative AI technology could do, venture capitalist Kai-Fu Lee saw the enormous potential of AI in the business market. The Chairman and CEO of Sinovation Ventures predicted in 2017 that AI will be greater than all of humanity’s previous technological revolutions combined,…
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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…