Nonfarm Payrolls Forecast to Bounce Back
Trading direction tomorrow is almost certain to hinge, as usual, on the monthly employment report. The Labor Department will release its measures of the employment situation for March at 15:30 AM ET (GMT+3), following up on a very disappointing payrolls number for February.
Forecasts expect that nonfarm payrolls rose by 175,000 last month, bouncing back from a weak gain of just 20,000 in February. The unemployment rate is forecast to have remained at 3.8%. Average hourly earnings, a measure of wage inflation, are seen up 0.2% for the month.
The stock market, once again, finds itself in a tricky, but familiar situation, where it’s unclear what will be a good number for equities. A really strong rebound might raise the specter of the Federal Reserve considering tightening down the line. Another anemic rise and that could spook the bond market about economic growth, pushing yields down again.
Labor market indicators leading up to the report have been mixed, with ADP’s private sector payrolls rising much less than anticipated, while initial jobless claims fell to a multi-decade low.
Source: Investing
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.