What will happen to the U.S. dollar after the labour market data release?
by
FM
A look into the labour market situation.
U.S. new hires are expected to rise by
150,000 jobs in September, and unemployment is likely to fall to 3.7.%, which
could help the Fed continue to keep interest rates on pause.
The U.S. is expected to add 150,000 jobs
and bring unemployment down to 3.7.% in September.
The better labour market situation will
give a reason for the U.S. Fed to be hawkish. In that case, the main upside
target for USDJPY is 150.00–152.00.
The U.S. Labour Department is expected to
report on Friday that the U.S. added 150,000 jobs in September, according to
economists polled by Reuters, down from 187,000 added in August. They also
expect the unemployment rate to fall from 3.8 per cent in August to 3.7 per
cent in September.
This data will be an essential part of the
Fed's settlement as it assesses the current state of the U.S. economy and the
appropriate course of monetary policy. An improving labour market will give the
U.S. Fed a reason to be hawkish, while a decline in new jobs will suggest that
the U.S. labour market is not strong enough, prompting the central bank to be
more dovish in its decisions and statements.
'According to
the August data, the labour market is returning to normal with a gain of
187,000 jobs, and this trend is likely to continue in September,' said Kar Yong
Ang, the Octa financial market analyst. 'Such an improvement in the U.S. labour
market will support the U.S. dollar,' he added.
The Fed's recent announcement that interest
rates will remain ‘high for longer’ has rattled global markets, adding strength
to the U.S. dollar. It may strengthen even more if the U.S. labour market
forecast is confirmed. For the currency market players, this may mean that
USDJPY is likely to continue rising, breaking through the critical resistance
level of 150.00. The main target is 150.00–152.00.
Octa is an international broker that has been
providing online trading services worldwide since 2011. It offers
commission-free access to financial markets and various services already
utilised by clients from 180 countries with more than 42 million trading
accounts. Free educational webinars, articles, and analytical tools they
provide help clients reach their investment goals.
The
company is involved in a comprehensive network of charitable and humanitarian
initiatives, including the improvement of educational infrastructure and
short-notice relief projects supporting local communities.
Octa
has also won more than 60 awards since its foundation, including the ‘Best
Educational Broker 2023' award from Global Forex Awards and the ‘Best Global
Broker Asia 2022' award from International Business Magazine.
U.S. new hires are expected to rise by
150,000 jobs in September, and unemployment is likely to fall to 3.7.%, which
could help the Fed continue to keep interest rates on pause.
The U.S. is expected to add 150,000 jobs
and bring unemployment down to 3.7.% in September.
The better labour market situation will
give a reason for the U.S. Fed to be hawkish. In that case, the main upside
target for USDJPY is 150.00–152.00.
The U.S. Labour Department is expected to
report on Friday that the U.S. added 150,000 jobs in September, according to
economists polled by Reuters, down from 187,000 added in August. They also
expect the unemployment rate to fall from 3.8 per cent in August to 3.7 per
cent in September.
This data will be an essential part of the
Fed's settlement as it assesses the current state of the U.S. economy and the
appropriate course of monetary policy. An improving labour market will give the
U.S. Fed a reason to be hawkish, while a decline in new jobs will suggest that
the U.S. labour market is not strong enough, prompting the central bank to be
more dovish in its decisions and statements.
'According to
the August data, the labour market is returning to normal with a gain of
187,000 jobs, and this trend is likely to continue in September,' said Kar Yong
Ang, the Octa financial market analyst. 'Such an improvement in the U.S. labour
market will support the U.S. dollar,' he added.
The Fed's recent announcement that interest
rates will remain ‘high for longer’ has rattled global markets, adding strength
to the U.S. dollar. It may strengthen even more if the U.S. labour market
forecast is confirmed. For the currency market players, this may mean that
USDJPY is likely to continue rising, breaking through the critical resistance
level of 150.00. The main target is 150.00–152.00.
Octa is an international broker that has been
providing online trading services worldwide since 2011. It offers
commission-free access to financial markets and various services already
utilised by clients from 180 countries with more than 42 million trading
accounts. Free educational webinars, articles, and analytical tools they
provide help clients reach their investment goals.
The
company is involved in a comprehensive network of charitable and humanitarian
initiatives, including the improvement of educational infrastructure and
short-notice relief projects supporting local communities.
Octa
has also won more than 60 awards since its foundation, including the ‘Best
Educational Broker 2023' award from Global Forex Awards and the ‘Best Global
Broker Asia 2022' award from International Business Magazine.
Suzuki Akihiko Joins Finalto Asia Pte Ltd as Head of Japan Markets
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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