Today, a series of key economic events from the U.S. will take place, expected to have a significant impact on global financial markets. These events revolve around important indicators related to the labor market and the monetary policy of the U.S. Federal Reserve (Fed).

Let’s go over today’s key news with Livetrade:

🔥Average Hourly Earnings
Reflecting wage growth, this is an indicator of labor inflation. If earnings rise significantly, this may lead the Fed to maintain tight monetary policy to control inflation, strengthening the USD but putting pressure on the stock market due to higher costs.

🔥Nonfarm Payrolls
A crucial indicator of the number of new jobs outside the agricultural sector. If job growth exceeds expectations, the USD will receive strong support. Conversely, if job growth is weak, the market may expect the Fed to ease its policies, weakening the USD and benefiting stocks.

🔥Unemployment Rate
If the unemployment rate rises, this could signal a weakening labor market, reducing the likelihood of the Fed continuing to raise interest rates. This would put downward pressure on the USD, while stocks might increase due to expectations of stable or lower interest rates.

🔥Speech by John Williams
Williams, the President of the Federal Reserve Bank of New York, may provide insights into the Fed’s policy direction. If he continues to emphasize inflation concerns, the Fed may maintain high interest rates, supporting the USD but pressuring the market. On the other hand, if he hints that the Fed may pause tightening, this could weaken the USD and support the stock market.

Conclusion
Stay updated with today’s economic data, especially the Nonfarm Payrolls, one of the most closely watched figures. The USD, stock market, and bonds will be the most affected assets. Follow Livetrade to make sure you don’t miss any important news!

Source: Compiled

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