The USD/JPY pair discovered buying interest after dropping below the 146.00 support on Wednesday. The asset demonstrated recovery despite weakness in the US Dollar ahead of the United States Automatic Data Processing (ADP) Employment Change data for August.
S&P500 futures remain sideways amid a quiet market mood as investors await the US private employment data. US equities were significantly bought on Tuesday after weaker than anticipated Job Openings data, which elevated Federal Reserve (Fed) soft landing hopes. Softer labor demand indicates that the job market is losing its resilience.
Fewer demand for labor by US firms was also the outcome of lower resignations by workers. Employees seem reluctant to switch jobs as the labor market is not as hot as it was earlier. For more information about the current status of the US labor market, ADP Employment data will be keenly watched.
As per the projections, fresh private payrolls were 195K in August vs. July’s reading of 324K. Investors should note that the economic data has been outperforming consensus for past four months. Higher-than-expected payroll data could allow the Fed to keep discussions about one more interest-rate hike alive.
Meanwhile, weakness in the Japanese Yen remains persistent as the Bank of Japan (BoJ) is not expected to exit from dovish monetary policy sooner. BoJ board member Naoki Tamura said it will take a bit more time to judge whether Japan meets BoJ’s price target in a sustainable manner. Also, in what order and at what pace BoJ exits easy policy will depend on economic conditions at the time.
Japanese authority in its annual economic white paper said that "Japan has seen price and wage rises broaden since the spring of 2022,” adding that “such changes suggest the economy is reaching a turning point in its 25-year battle with deflation.”
prices are back on the rise as a global supply shortfall is becoming more evident and the International Energy Agency (IEA) is once again claiming that the web can be okay if we just stop investing in fossil fuels. Of course, the IEA’s past predictions of supply and demand have been way off and ...
The data confirms the rise in demand for GLP-1s, which have fueled a frenzy among Americans and on Wall Street for their ability to cause weight loss.
In the face of prolonged strikes, some smaller suppliers are cutting workers or announcing plans to do so.
Martyn Beauchamp is set to be named interim chief executive of the Financial Services Compensation Scheme
U.S. stocks opened higher Wednesday, finding supprort as Treasury yields pulled back and the Dow Jones Industrial Average attempted to recover from its worst one-day percentage loss since March. The Dow DJIA, -0.07% was up 47 points, or 0.1%, at 33,666. The S&P 500 SPX, +0.10% rose 0.4%, while...
JPMorgan Chase & Co. JPM, +0.43% said Wednesday it won a competitive process to provide account validation services for the U.S. Treasury Department under a financial agency agreement for a minimum of five years. Terms of the deal were not disclosed in a statement by the bank. The U.S. Treasury...
Technical signals suggesting the market is oversold aren't enough to confidently buy the dip, according to Canaccord Genuity.
Sixteen years ago, Madeline-Michelle Carthen was preparing for a summer internship in Ghana after she was accepted into Webster University's intern exchange program when she received shocking news: her social security number was associated with a deceased person.
Since my last remain extremely volatile amid concerns over the supply and demand mismatch, but the overall tone has been bullish. In the 4-hour chart, the natural gas futures have found a strong base at $2.858 after consolidating at $2.676, as I predicted in my last analysis.