Wonderful introduction:
There are always more missed things in life than not missed ones. Everyone has missed countless times. So we don’t have to feel guilty and sad about what we miss, we should be happy about what we have. If you miss beauty, you have health; if you miss health, you have wisdom; if you miss wisdom, you have kindness; if you miss kindness, you have wealth; if you miss wealth, you have wzhdjgj.comfort; if you miss wzhdjgj.comfort, you have freedom; if you miss freedom, you have personality...
Hello everyone, todayXM Forex will bring you "[XM Forex Platform]: "Small non-agricultural" weekly data shows employment weakness continues, gold price rebounds from one-week low". Hope this helps you! The original content is as follows:
On November 19, in early trading in the Asian market, spot gold was trading around US$4,072 per ounce. Gold hit a one-week low on Tuesday and then rebounded. Mainly driven by weak U.S. employment data, which strengthened market expectations that the Federal Reserve may cut interest rates in December; U.S. crude oil traded around $60.68 per barrel. Oil prices fluctuated and closed higher on Tuesday under the influence of multiple factors. U.S. President Trump announced that he had started interviews for the next chairman of the Federal Reserve, boosting market risk appetite.
The U.S. dollar continued its gains against the yen on Tuesday, hitting a nine-and-a-half-month high during the session, and also strengthened against the euro. Market concerns about Japan's fiscal policy continue to simmer, while investors are waiting for key U.S. data to provide clear direction for the Federal Reserve's policy path.
The U.S. dollar index edged up 0.02% to 99.55. The U.S. dollar index rose 0.2% against the yen to 155.58 yen. It hit 155.73 in the morning, the highest level since February 3. The euro fell 0.07% against the U.S. dollar to 1.1584 U.S. dollars.
The strength of the US dollar is mainly due to two factors. In Japan, although Bank of Japan Governor Kazuo Ueda hinted that he may raise interest rates as early as next month, Prime Minister Takaichi Sanae expressed dissatisfaction with this and asked the central bank to cooperate with the government to revive the economy. This policy disagreement triggered market concerns about Japan's fiscal discipline. Barclays Bank analysis believes that Prime Minister Takaichi's implementation of Abenomics-style policies will continue to put pressure on the yen.
In the United States, recent dataThe economy is showing signs of slowing, but expectations for interest rate cuts are weakening. Data from the Cleveland Fed showed that 39,000 Americans received layoff notices last month, and an ADP report showed that employers were laying off an average of 2,500 workers per week. Strategists pointed out: Looking at the market on paper, there is really no reason to cut interest rates at the moment.
Market focus turns to the U.S. September employment report expected to be released on Thursday, which will provide important clues to the Fed's next move. The money market currently predicts that the probability of a 25 basis point interest rate cut next month is about 51%, which is significantly lower than last week's 60%. Opinions remain divided within the Fed, with Governor Waller continuing to find reasons for cutting interest rates, while Vice Chairman Jefferson advocated the need to "move slowly."
Australia’s wage and price index rose 0.8% year-on-year in the third quarter, in line with expectations and keeping pace with the second quarter. Overall stability masked slight changes across sectors: private sector wages rose 0.7% month-on-month, while public sector wages rose 0.9% month-on-month, continuing recent outperformance.
On an annual basis, wage growth was 3.4%, the same as in the second quarter. Public sector pay rose 3.8% year-on-year, slightly higher than last year's 3.7% increase. Private sector wage growth slowed to 3.2% from 3.5% in September 2024. This is the third consecutive quarter that public wages have grown faster than private wages.
Hugh Peel, chief economist at the Bank of England, warned against placing too much emphasis on a single data point.
In a panel discussion, he said: "Policymakers should be careful about over-interpreting the latest data news because there is a lot of noise in the data flow, partly due to some of the challenges faced by colleagues at the Office for National Statistics."
Peel said he acknowledged that underlying inflationary pressures may not be as strong as the 3.8% headline inflation rate suggests. However, he cautioned that other inflation-related data had not slowed as much as expected.
Inflation in Canada slowed down in October, with overall CPI slowing from 2.4% to 2.2% year-on-year, fully in line with expectations. The slowdown was mainly driven by gasoline prices, which fell 9.4% year-on-year, wzhdjgj.compared with a 4.1% decline in September. Excluding gasoline, the consumer price index (CPI) remained at 2.6% year-on-year.
The performance of core indicators is wzhdjgj.complex but overall soft. The median CPI fell to 2.9% from 3.1%, below expectations of 3.1%. CPI decreased to 3.0% year-on-year, from 3.1% to 3.0%, in line with expectations. CPI wzhdjgj.common Shares were flat at 2.7% year over year, missing expectations of 2.8%.
Data showed inflation will gradually cool, driven mainly by energy, but supported by a slight softening in core categories.
Thomas Barkin, President of the Federal Reserve Bank of Richmond, said that the U.S. central bank is facing pressure from both sides, with inflation still above the target and employment growth slowing down significantly. However, he pointed out that the situation is not one-way, with consumers increasingly resisting prices.Prices rose while the contraction in labor supply kept the unemployment rate stable.
Barkin described the Fed's current environment as "a ship docked at night without a lighthouse," highlighting the difficulty of judging policy in the absence of timely government data during the shutdown. He said the upcoming delayed report would provide much-needed clarity on inflation and labor market dynamics.
"I think we still have a lot to learn between now and then," Bajin added, noting that the December decision remains highly data-dependent as policymakers await the first wzhdjgj.complete set of data since the government reopened.
Federal Reserve President Christopher Waller struck a decidedly dovish tone in his nightly speech, arguing that inflation risks have diminished and deteriorating labor conditions now deserve more attention.
Waller said he was "not concerned about accelerating inflation," adding that this week's September jobs report or upcoming news was unlikely to change his view on "another cut" after months of cooling employment data. He warned that restrictive monetary policies placed a disproportionate burden on low- and middle-income consumers, further supporting easing policy.
Waller said the December cuts would provide "additional insurance" against further deterioration in the labor market and help move policy towards neutrality.
In addition, Vice Chairman Philip Jefferson provided a more balanced view in his speech, acknowledging that policy has gradually been guided to a neutral interest rate. He added: "The evolution of the risk balance emphasizes the need to act slowly when approaching neutral interest rates."
The above content is about "[XM Foreign Exchange Platform]: "Small non-agricultural" weekly data shows employment weakness continues, gold price rebounds from one-week low" The entire content was carefully wzhdjgj.compiled and edited by the XM Foreign Exchange editor, I hope it will be helpful to your trading! Thanks for the support!
Sharing is as simple as a gust of wind can bring refreshing, as pure as a flower can bring fragrance. Gradually my dusty heart opened up, and I understood that sharing is actually as simple as the technology.