December NFP: Where can I get USD?
- Markets anticipate more than 200k new jobs in November.
- The FedWatch Tool reports that the Feds may consider a December rate increase at a lower level.
- The weaker NFP reading could cause dollar bears to accelerate.
December is usually a quiet month in the markets. However, there is still a strong risk appetite heading into the December NFP Report.
What can you expect?
After the growth of the US economy, market analysts predict that there will be another 200k new jobs in November. 261k October In October, the unemployment rate also improved. 3.7% To 3.6%.
It should be noted that 200k While more jobs are good, they represent the slowest pace for employment creation in 2022. This may be due to tighter financial conditions that could lead to a loosening labor market.
According to the Bureau of Labor Statistics the main consumer price index dropped from 8.3% in September, to 7.3% in October 7.7% October
Tomorrow’s NFP report will focus on employment and wage growth changes since both are important to the Fed when determining monetary policy.
Less Hawkish Powell
Jerome Powell, Chairman of the FOMC, stated that it would be prudent to slow down the rate of interest rate rises. Powell also stated that the rates must eventually rise slightly…