US Non-Farm Payrolls Data Is Behind Us: Now Focus On US CPI Inflation
The U.S. economy added fewer jobs than expected last month. The US Nonfarm Payrolls rose 145K in December, compared with expectations for a rise of 164K according to economists’ forecasts. The unemployment rate remained steady at 3.5%, as predicted.
White House economic adviser Larry Kudlow said that job numbers are still very strong. Stock markets indicate higher economic growth. The translation of China deal has been authenticated, everything is completely in place." Kudlow added.
Looking ahead, we will closely watch the US CPI inflation figures Tuesday, which should lend further support to the notion that inflation has returned to the Fed’s target.
Consumer prices are expected to have risen 0.3% last month and 2.3% over the prior year, according to estimates. Excluding the cost of food and fuel, core inflation is projected to stay at 2.3% on a year-over-year basis.
In addition to US Inflation data, the US Commerce Department will report December retail sales numbers on Thursday. Economists predict that retail sales rose by 0.3% last month. On the other hand, Core retail sales, which exclude autos, are expected to have risen by 0.5%. A higher than expected reading should be taken as positive for the greenback.
Investors will also get an update on the health of the U.S. housing market from reports on Building Permits and Housing Starts in the upcoming week.
Moreover, China's Liu He said to lead a 10-member delegation to Washington. The US and China Phase1 Trade Deal signing will be set for 15 January.
13 Jan 20 (Mon)
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