⚠️ At 13:30 GMT today, the US will release data on the state of its labor market. Forecasts suggest an increase of 180 thousand jobs last month, compared to 150 thousand in October.
📊 Last week, initial unemployment benefit applications in the US totaled 220 thousand, a slight increase from 219 thousand two weeks earlier.
📣 The Bank of Japan's head, Ueda, stated that the regulator is exploring options to normalize monetary policy and move away from negative interest rates. This led to a notable strengthening of the yen and a decline in the USD/JPY pair to 141.64.
🇯🇵 Japan's gross domestic product contracted by 0.7% in Q3, with an annual drop of 2.9%.
🇪🇺 The eurozone's gross domestic product saw a 0.1% decrease in Q3, while the annual economic performance remained stagnant. #EconomicIndicators #USDJPY #GDP #LaborMarket #FreshForex
📊 Last week, initial unemployment benefit applications in the US totaled 220 thousand, a slight increase from 219 thousand two weeks earlier.
📣 The Bank of Japan's head, Ueda, stated that the regulator is exploring options to normalize monetary policy and move away from negative interest rates. This led to a notable strengthening of the yen and a decline in the USD/JPY pair to 141.64.
🇯🇵 Japan's gross domestic product contracted by 0.7% in Q3, with an annual drop of 2.9%.
🇪🇺 The eurozone's gross domestic product saw a 0.1% decrease in Q3, while the annual economic performance remained stagnant. #EconomicIndicators #USDJPY #GDP #LaborMarket #FreshForex
Center stage: The Ministry of Labor Report.
The pivotal event of the day will be the release of the report on new non-farm jobs for November. The consensus anticipates a figure of 175,000, following 150,000 in October, with an annual average of 238,000. Special attention is given to the expected increase of around 50,000 jobs, attributed to the resolution of strikes in the automotive industry and Hollywood. Meanwhile, the demand for labor is diminishing due to the economic slowdown under the influence of the Federal Reserve's stringent monetary conditions.
Labor market data is disclosed ahead of the FOMC meeting scheduled for December 12–13, where the Federal Reserve is likely to maintain the interest rate in the current range of 5.25–5.5%.
We anticipate that the upcoming session will be characterized by increased volatility with a positive risk balance. Sharp fluctuations in quotes are expected at the beginning of trading following the release of the labor market report.
#MinistryofLaborReport #LaborMarket #FOMC #FederalReserve #Volatility #EconomicForecast
The pivotal event of the day will be the release of the report on new non-farm jobs for November. The consensus anticipates a figure of 175,000, following 150,000 in October, with an annual average of 238,000. Special attention is given to the expected increase of around 50,000 jobs, attributed to the resolution of strikes in the automotive industry and Hollywood. Meanwhile, the demand for labor is diminishing due to the economic slowdown under the influence of the Federal Reserve's stringent monetary conditions.
Labor market data is disclosed ahead of the FOMC meeting scheduled for December 12–13, where the Federal Reserve is likely to maintain the interest rate in the current range of 5.25–5.5%.
We anticipate that the upcoming session will be characterized by increased volatility with a positive risk balance. Sharp fluctuations in quotes are expected at the beginning of trading following the release of the labor market report.
#MinistryofLaborReport #LaborMarket #FOMC #FederalReserve #Volatility #EconomicForecast
#GBPUSD #Forex #Finance #LaborMarket
📈 Trading Session Overview:
The GBP/USD pair is declining due to geopolitical risks and expectations of UK labor market data. The canceled speech by the Bank of England's Governor Andrew Bailey also puts pressure on the British pound.
💼 Key Events of the Day:
10:00 MSK: Change in the number of unemployment benefit claims.
Concerns about geopolitical risks.
📉 Trading Recommendation:
Trade on the sell side from the 1.2690 level.
📈 Trading Session Overview:
The GBP/USD pair is declining due to geopolitical risks and expectations of UK labor market data. The canceled speech by the Bank of England's Governor Andrew Bailey also puts pressure on the British pound.
💼 Key Events of the Day:
10:00 MSK: Change in the number of unemployment benefit claims.
Concerns about geopolitical risks.
📉 Trading Recommendation:
Trade on the sell side from the 1.2690 level.
EURUSD: 1.0815, Downward Trend Continues
The EURUSD fell during the Asian session on Wednesday, dropping to the 1.0815 area, which is within striking distance of the lowest level since December 13, reached earlier this week.
The main factors weighing on the euro are:
The JOLTS report released on Tuesday showed that the number of job openings in the United States unexpectedly rose to 9.02 million in December, suggesting that the labor market is too strong for the Federal Reserve (Fed) to begin cutting interest rates in the first quarter.
Geopolitical risks, driven by conflicts in the Middle East and economic problems in China.
However, the recent decline in U.S. Treasury yields could keep dollar bulls from aggressive bets ahead of the Fed's highly anticipated monetary policy decision, which is scheduled to be released today. Additionally, uncertainty over when the European Central Bank (ECB) will begin cutting interest rates could be a tailwind for the common currency.
Trading recommendation: Sell orders at the 1.0800 level.
#EURUSD #Fed #FedRateHike #euro #dollar #laborMarket #geopoliticalRisks
The EURUSD fell during the Asian session on Wednesday, dropping to the 1.0815 area, which is within striking distance of the lowest level since December 13, reached earlier this week.
The main factors weighing on the euro are:
The JOLTS report released on Tuesday showed that the number of job openings in the United States unexpectedly rose to 9.02 million in December, suggesting that the labor market is too strong for the Federal Reserve (Fed) to begin cutting interest rates in the first quarter.
Geopolitical risks, driven by conflicts in the Middle East and economic problems in China.
However, the recent decline in U.S. Treasury yields could keep dollar bulls from aggressive bets ahead of the Fed's highly anticipated monetary policy decision, which is scheduled to be released today. Additionally, uncertainty over when the European Central Bank (ECB) will begin cutting interest rates could be a tailwind for the common currency.
Trading recommendation: Sell orders at the 1.0800 level.
#EURUSD #Fed #FedRateHike #euro #dollar #laborMarket #geopoliticalRisks
USDJPY: Awaiting US Inflation Data and Bank of Japan Comments
The USD/JPY pair is trading without significant changes at the start of the Asian session. Uncertainty about the timing of interest rate cuts leaves the US dollar in consolidation. Investors are awaiting the release of US Consumer Price Index (CPI) data and comments from the Bank of Japan, which could influence the Japanese yen's exchange rate. Trading recommendation: preferably trade on buy from current price levels.
Today's events in the financial markets could significantly impact currency pair rates, so investors should exercise caution and monitor market dynamics. #Forex #Finance #Investments #EURUSD #GBPUSD #USDJPY #inflation #CPI #BankofEngland #Fed #BankofJapan #labormarket #unemployment
The USD/JPY pair is trading without significant changes at the start of the Asian session. Uncertainty about the timing of interest rate cuts leaves the US dollar in consolidation. Investors are awaiting the release of US Consumer Price Index (CPI) data and comments from the Bank of Japan, which could influence the Japanese yen's exchange rate. Trading recommendation: preferably trade on buy from current price levels.
Today's events in the financial markets could significantly impact currency pair rates, so investors should exercise caution and monitor market dynamics. #Forex #Finance #Investments #EURUSD #GBPUSD #USDJPY #inflation #CPI #BankofEngland #Fed #BankofJapan #labormarket #unemployment