Forex Today: Eurozone inflation data and US jobs report to ramp up volatility – by eren_fxstreet Currencies Majors Macroeconomics Commodities CryptoCurrencies
Supported by the upbeat employment-related data from the US, the US Dollar outperformed its rivals on Thursday with the US Dollar Index rising to its highest level in three weeks above 105.00. Early Friday, markets stay relatively quiet as focus shifts to Eurozone inflation and Retail Sales figures ahead of the December jobs report from the US.
The monthly data published by ADP revealed on Thursday that private sector employment in the US rose by 235,000 in December, surpassing the market expectation of 150,000 by a wide margin. Further details of the report revealed that annual wage inflation was up 7.3% in the same period. Additionally, the US Department of Labor announced that there were 204,000 initial claims for unemployment benefits in the last week of 2022, down from 223,000 in the previous week.
Nonfarm Payrolls in the US are forecast to rise by 200,000 in December following November's better-than-expected increase of 263,000. Wage inflation, as measured by the Average Hourly Earnings, is expected to edge lower to 5% on a yearly basis from 5.1% in November. Ahead of the labor market data, the US Dollar Index consolidates its recent gains slightly above 105.00.fell sharply in the second half of the day on Thursday and came within a touching a distance of 1.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Forex Today: Market Awaits FOMC Meeting MinutesFOMC Minutes Hoped to Explain Inflation Fear; BoJ Announced More Bond Purchases; US Dollar Spike Ends.
Read more »
Forex Today: US Dollar rally pauses as focus shifts to PMI data, FOMC MinutesForex Today: US Dollar rally pauses as focus shifts to PMI data, FOMC Minutes – by eren_fxstreet Currencies Majors Macroeconomics Fed Commodities
Read more »
Forex Today: New year, old FedWhat you need to take care of on Thursday, January 5: The US Dollar changed course on Wednesday and edged sharply lower across the FX board. However,
Read more »
Forex Today: Markets quiet down ahead of high-tier data releasesForex Today: Markets quiet down ahead of high-tier data releases – by eren_fxstreet Currencies Majors Commodities Macroeconomics CryptoCurrencies
Read more »
Forex Today: FOMC Pushes Back Against Rate Cut ProspectFOMC Minutes Show Stern Resolve, Warning; Gold Reaches New 6-Month High; Amazon, Salesforce Announce Major Job Cuts.
Read more »
Forex Today: EU inflation and US employment data could be decisiveWhat you need to take care of on Friday, January 6: The American Dollar aimed higher early Thursday, backed by the echoes of a hawkish Fed. It gained
Read more »