US labor market barely recovers in August – Commerzbank
Source Fxstreet
In August, job growth in the US amounted to 142 thousand, which was slightly less than expected (consensus 165 thousand, Commerzbank forecast 150 thousand), Commerzbank’s Senior Economist Dr. Christoph Balz notes.
The labor market remains a cause for concern
“The US labor market barely recovered in August after the disappointing July report. 142 thousand new jobs were created, while the unemployment rate fell to 4.2%. At the same time, however, the increase in jobs in June and July was revised downwards by a total of 86 thousand.”
“The labor market therefore remains a cause for concern. The Federal Reserve is likely to cut interest rates on September 18. However, the report does not provide a clear indication whether policy makers will prefer a move by 25 or 50 basis points.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin holds steady above $90,000 as traders eye $100,000, buoyed by Thanksgiving market lull.
Silver (XAG/USD) climbs to a fresh all-time high on Friday, buoyed by dovish Federal Reserve expectations alongside strong industrial and investment demand.
Crypto Market Outlook: Bitcoin, Ethereum, and XRP Tumble as BoJ Hawkishness Sparks Risk-Off RoutBitcoin slides below $87,000, Ethereum leans on $2,800 support and XRP hovers around $2.00 as December opens with a risk-off tone, leaving BTC eyeing $80,600–$74,508, ETH exposed to $2,111 and XRP to $1.90 unless buyers can turn key levels into a base for a rebound.
Bitcoin slides below $87,000, Ethereum leans on $2,800 support and XRP hovers around $2.00 as December opens with a risk-off tone, leaving BTC eyeing $80,600–$74,508, ETH exposed to $2,111 and XRP to $1.90 unless buyers can turn key levels into a base for a rebound.
AUD/USD holds steady below 0.6550 as traders await Australian GDP releaseThe AUD/USD pair trades on a flat note near 0.6540 during the early Asian trading hours on Tuesday. Weaker-than-expected US economic data and rising US interest rate cut expectations in December drag the US Dollar (USD) lower against the Australian Dollar (AUD).
The AUD/USD pair trades on a flat note near 0.6540 during the early Asian trading hours on Tuesday. Weaker-than-expected US economic data and rising US interest rate cut expectations in December drag the US Dollar (USD) lower against the Australian Dollar (AUD).
Avalanche Coils for a Big Move as Wolfe Wave Pattern TightensAvalanche (AVAX) is trading near $13.06 as a Wolfe Wave pattern and key weekly trendline converge, with BeLaunch eyeing a $11–$8 accumulation zone and drawing parallels to the September 2023 setup — a combination that suggests a major breakout could be approaching once the current coil finally snaps.
Avalanche (AVAX) is trading near $13.06 as a Wolfe Wave pattern and key weekly trendline converge, with BeLaunch eyeing a $11–$8 accumulation zone and drawing parallels to the September 2023 setup — a combination that suggests a major breakout could be approaching once the current coil finally snaps.
