Watch Out For US Non-Farm Payrolls Today
The FOMC Meeting is behind us; Today, we will focus on the April's Non-Farm Payrolls. US Jobs Report is a significant determinant of Fed rate hike in June Meeting. The Federal Reserve left interest rates on hold last Wednesday, as widely expected. But the Fed signaled that inflation was nearing its 2% target, lining up a further rate hike at its next meeting in June. US Dollar has extended gains against all major currencies for three weeks. Recent economic data supported for US Dollar. US GDP came out at 2.3% in the first quarter which a better performance than expected. The March's inflation report showed that US Consumer Price index rose by 2.4% while underlying inflation rose 2.1% year-on-year. Additionally, ADP Nonfarm Employment Change grew by 204K in April. It was little higher than expectations, according to a report released Wednesday If we look at US Jobs Reports’s forecast; US Non-farm Payrolls is expected to 189K jobs created after rising 103K the previous month. Unemployment Rate is expected to ease to 4.0% compared to 4.1% a month ago. Average hourly earnings will be another release to be followed closely at the same time and are expected to be 0.2% lower than a previous month number of 0.3%. An upbeat employment report will point to an improving US Economy and support the US Dollar.
09 Jul 18 (Mon)
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