#USNonFarmPayrollReport
More U.S. labor market, inflation data due
There are more data releases for traders to digest Thursday, as they try to work out the likely rate of U.S. interest rates in the new year.
Data released on Tuesday showed that U.S. nonfarm payrolls rose by 64,000 jobs in November, but the unemployment rate climbed to 4.6%, the highest since 2021.
Weekly jobless claims are due later in the session, along with the U.S. consumer price index, and these could provide fresh guidance on the Federal Reserve’s interest rate outlook.
“Unless the weekly jobless claims number spikes today, we doubt the U.S. data will move the dollar much at all,” said analysts at ING, in a note. “That includes a reading on the delayed CPI data, where the November headline figure is expected to be 3.1% year-on- year, feeding into the sticky inflation narrative. Yet that looks unlikely to prompt a major re-assessment of the Fed trajectory.”
More U.S. labor market, inflation data due
There are more data releases for traders to digest Thursday, as they try to work out the likely rate of U.S. interest rates in the new year.
Data released on Tuesday showed that U.S. nonfarm payrolls rose by 64,000 jobs in November, but the unemployment rate climbed to 4.6%, the highest since 2021.
Weekly jobless claims are due later in the session, along with the U.S. consumer price index, and these could provide fresh guidance on the Federal Reserve’s interest rate outlook.
“Unless the weekly jobless claims number spikes today, we doubt the U.S. data will move the dollar much at all,” said analysts at ING, in a note. “That includes a reading on the delayed CPI data, where the November headline figure is expected to be 3.1% year-on- year, feeding into the sticky inflation narrative. Yet that looks unlikely to prompt a major re-assessment of the Fed trajectory.”
