US JOB Report in Focus

Simon Alagbe

Analyst

The US job market has shown continuous improvement, with more jobs being created than lost in the last three months. This is good news for job seekers and will likely continue into the future. However, there are still significant challenges facing the job market in the US as recession pressure mounts.

According to estimates, the US participation rate is expected to edge higher and the situation is the same for average hourly earnings. 

The Fed policymakers have repeatedly stated that the FOMC would risk a softer labour market to arrest inflationary pressure and positive job data will further boost their stance on rate hikes with a possibility of another 75 basis point hike in November. 


Trade opportunity 

Increased volatility is expected on Friday and would possibly set the pace for what is to come this month. 


Instruments to Watch 

Currencies- EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD, USDJPY

Commodities - GOLDs, Silver

Index- USDIDX, US30, US100, US500, US2000. 


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