Market Crash Incoming?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
American job openings slump in November
In November, American job openings headed south, suppressed by steep dives in construction as well as other services. However, it will most likely do little to change opinions that the American economy is currently facing a shortage of workforce.
A gauge of labor demand, job openings went down by 243,000 to a seasonally updated 6.9 million. That’s what the Labor Department revealed on Tuesday. In August, they reached a record maximum of about 7.3 million.
The job openings rate went down to 4.4% in contrast with October’s outcome of 4.5%.
In November, hiring inched down by 218,000 resulting in 5.7 million. Moreover, anecdotal evidence has been growing of businesses facing difficulties finding workforce, a phenomenon that financial analysts expect to decelerate job surge this year.
Last Friday, the US cabinet informed that nonfarm payrolls headed north by up to 312,000 jobs in December, which appears to be the most impressive surge since February. Last year job surge averaged 220,000 a month. In 2019, job gains are anticipated to speed down to nearly 150,000 a month because employees get scarcer.
By the way, the Labor Department hasn’t been impacted by the partial shutdown of the American cabinet and will keep publishing economic data prepared by its statistics agency, the Bureau of Labor Statistics.
By the way, data releases from the Census Bureau as well as Bureau of Economic Analysis, with November trade figures that were expected to be published on Tuesday, have been suspended during the government shutdown that burst out on December 22 in the face of demands by American leader for up to $5 billion in financing for a wall on the US-Mexico border.
The currency pair USD/JPY slumped by 0.03% reaching Y108.67 owing to waning demand for Japan‘s safe-haven currency against the backdrop of investor optimism that the recent round of trade negotiations between China and America could pave the way to an agreement.
Similar
Gold Outlook Ahead of NFP
Good day for all traders out there! We prepared a gold analysis and a bunch of other news for you to enjoy! Here's what you should know:
What will move the market on February 14-18?
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
Latest news
The US Dollar Is Correcting
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
Bearish Signal For The USD
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
Current Risks for Developed Economies
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
