Despite the uptick in the unemployment rate, the labor market is making steady progress toward full employment which should be reached before the end of the year. The uptick in wages fits nicely with our thesis that we a…
Despite the uptick in the unemployment rate, the labor market is making steady progress toward full employment which should be reached before the end of the year. The uptick in wages fits nicely with our thesis that we are approaching an inflection point on the Phillips curve and we look for hourly earnings growth to accelerate to 2.6% by year-end, said Societe Generale.
The drag from the energy sector is on track to end this summer. The sector has lost 68k jobs to date, about 70% of the expected total cuts, suggesting that we are about two months away from completion. This is consistent with the flattening in rig counts suggests that the oil-related drag on GDP should diminish in Q2 and be over by mid-year.
The report is consistent with further labour market progress which is one of the Fed's conditions for a lift-off in rates. Activity data is still missing the mark but a solid retail sales data next week likely to ease concern about weak consumption.
We continue to look for a September lift-off, with four more hikes in 2017 and with tapering of re-investments beginning in Q2 2016, adds Societe Generale.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
