FOCUS OF THE DAY: U.S. Employment Report!
Dear traders,
The U.S. Labor Department will release the nonfarm payrolls report for October at 15:30 Moscow time. The consensus forecast is that the data will show jobs growth of 191,000, after adding 134,000 positions in September, while the unemployment rate is seen inching up to 3.8% from 3.7%.
However, most of the focus will likely be on average hourly earnings figures, which are expected to rise 3.1% from a year earlier, a tad quicker than the 2.8% increase a month earlier.
Data released last week showed the U.S. economy grew at a 3.5% annualized rate, keeping growth on track to hit the Trump administration’s 3%-target this year.
The Federal Reserve remains on course to raise interest rates again in December, despite a recent tightening in financial market conditions brought about by a stock market sell-off and a rise in U.S. Treasury yields. (Investing.com)
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