The US Non-farm Employment Change in the labour data is a primary focus this week, as the Fed’s speech at the 2022 Jackson Hole Symposium on 25-27 August may influence policymakers’ decisions.
The US will release data this week on job openings, consumer confidence, and manufacturing activity in the service sector.
Germany and Switzerland will also release consumer price index data.
Image source: forexfactory.com
The German Consumer Price Index (CPI) rose 0.90% in July over the previous month, according to a preliminary estimate from the Federal Statistical Office of Germany. The increase was primarily due to higher energy prices. Analysts expect the German Prelim CPI to rise by 0.3% in April.
The US Consumer Confidence Index declined to 95.7 in July 2022 from 98.4, as the US economy showed signs of slowing growth. The index will likely rebound to 98 by September 2022 if US consumers’ perception of their job security stabilizes and they feel confident about their income potential.
Job openings in the US fell to 10.7 million in June 2022 to the lowest point in nine months, according to data from the Job Openings and Labor Turnover Survey or JOLTS. The decline was driven by a drop in openings for construction and mining workers.
As US economic conditions continue to improve, we can expect to see more jobs in the future.
Private businesses in the US added an estimated 128,000 payrolls in May, down from a revised 223,000 in April—marking the lowest monthly total since the job losses of 2020. Economists expect that private employers will create 200,000 jobs in June, pushing the average for the second quarter to 216,000.
Switzerland’s Consumer Price Index remained unchanged in July from the previous month. Analysts expect the index to decrease slightly in August and dip into negative territory by 0.1%. The Swiss National Bank is expected to keep its interest rate unchanged at 0% for the time being, as inflation remains below its target range. The country’s economy is expected to grow in the second half of 2022, albeit slower than previously anticipated.
The ISM Manufacturing PMI decreased to 52.8 in July from 53 in June. It is widely expected that the index will continue its downward trend in August. The slowdown in economic growth and trade tensions between the US and China are likely to continue weighing on manufacturing activity in the country. The ISM Manufacturing PMI is expected to decrease slightly in August but will remain at a relatively high level of 51.8.
US average hourly earnings increased by 0.5% in July. The US economy added 528,000 jobs, and the unemployment rate decreased to 3.5%, the lowest since February 2020. Analysts expect average hourly earnings to rise by 0.3%, with 300,000 additional jobs and an unemployment rate of 3.5%.
Education
Company
FAQ
Promotion
Risk Warning: Trading CFDs carries a high level of risk and may not be suitable for all investors. Leverage in CFD trading can magnify gains and losses, potentially exceeding your original capital. It’s crucial to fully understand and acknowledge the associated risks before trading CFDs. Consider your financial situation, investment goals, and risk tolerance before making trading decisions. Past performance is not indicative of future results. Refer to our legal documents for a comprehensive understanding of CFD trading risks.
The information on this website is general and doesn’t account for your individual goals, financial situation, or needs. VT Markets cannot be held liable for the relevance, accuracy, timeliness, or completeness of any website information.
Our services and information on this website are not provided to residents of certain countries, including the United States, Singapore, Russia, and jurisdictions listed on the FATF and global sanctions lists. They are not intended for distribution or use in any location where such distribution or use would contravene local law or regulation.
VT Markets is a brand name with multiple entities authorised and registered in various jurisdictions.
· VT Global Pty Ltd is authorised and regulated by the Australian Securities & Investments Commission (ASIC) under licence number 516246.
· VT Global is not an issuer or market maker of derivatives and is only allowed to provide services to wholesale clients.
· VT Markets (Pty) Ltd is an authorised Financial Service Provider (FSP) registered and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa under license number 50865.
· VT Markets Limited is an investment dealer authorised and regulated by the Mauritius Financial Services Commission (FSC) under license number GB23202269.
· VTMarkets Ltd, registered in the Republic of Cyprus with registration number HE436466 and registered address at Archbishop Makarios III, 160, Floor 1, 3026, Limassol, Cyprus.
Copyright © 2024 VT Markets.