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07 Oct 2022

07 Oct 2022

Market Wire: Hawkish Payrolls Report Lifts Dollar

Ahead of the release, investors were positioned for a 250,000-job gain, with the unemployment rate seen holding at 3.7 percent. The dollar climbed on the print as interest rates rose slightly across the front end of the curve. Stock futures slipped. On the colder side of the border, Canada generated 21,100 jobs in September, modestly topping expectations for a 20,000-position increase. According to data released by Statistics Canada, the unemployment rate fell to 5.2 percent from 5.4 percent in August. Average hourly wages grew 5.2 percent on a year-over-year basis, up from the 5.4 percent pace recorded in the prior...

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07 Oct 2022

Market Briefing: Markets Flatline Ahead of Non-Farm Payrolls

Currency traders are treading cautiously ahead of a non-farm payrolls report that is expected to show the US job creation engine beginning to cool, but still running far too hot for the Federal Reserve. With high inflation and ever-rising interest rates weighing on economic activity, markets think roughly 250,000 new positions were created last month, down sharply from the 440,000 average in the first half, even as the unemployment rate holds near a historically-low 3.7 percent. Data released yesterday morning showed initial jobless claims jumping to a seasonally-adjusted 219,000 last week from a revised 190,000 in the prior week –...

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