Unemployment Rate

Key events: USA - Average Hourly Earnings (MoM) (Nov) USA - Nonfarm Payrolls (Nov) USA - Unemployment Rate (Nov) USA - Michigan Consumer Sentiment   The Dow Jones Industrial Average appears poised to conclude its five-week streak of gains, as the index experienced a decline over the initial three sessions of the week. Despite a modest 0.2% uptick on Thursday, confidence in the DJIA's upward momentum remains tentative.

Key events: Canada - Ivey PMI (Oct) UK - BoE MPC Member Pill Speaks  The Dow concluded the week on a high note, achieving its most substantial weekly gain of the year, largely driven by a weaker-than-expected jobs report that fueled optimism about the Federal Reserve's rate hike intentions, causing Treasury yields to plummet. The Dow Jones Industrial Average saw a 222-point or 0.7% increase, while the S&P 500 experienced a 0.9% rise, and the NASDAQ Composite surged by 1.4%.

During each election season, politicians worldwide campaign with the pledge of generating well-compensated employment opportunities. This aspect often serves as the paramount criterion for most voters. Parents support such promises because they envision increased job prospects for their children, while young individuals cast their votes in favor of these policies in anticipation of better employment prospects.

Key events: USA - Average Hourly Earnings (MoM) (Aug) USA - Nonfarm Payrolls (Aug) USA - Unemployment Rate (Aug) USA - ISM Manufacturing PMI (Aug)   ISM Manufacturing Prices (Aug) US equities were on an upward trajectory as August came to a close, bolstered by the anticipation of Friday's employment report for the same month.

Key events: USA - ADP Nonfarm Employment Change (Jul)   USA - Crude Oil Inventories Tuesday witnessed a stumble in the S&P 500, with consumer stocks bearing the brunt of the pressure, as investors absorbed the latest round of quarterly earnings reports. The S&P 500 declined by 0.3%, while the Dow Jones Industrial Average managed to edge up by 0.2%, or 71 points. In contrast, the Nasdaq experienced a 0.4% decline.

Key events: USA - Average Hourly Earnings (MoM) (Jun) USA - Nonfarm Payrolls (Jun) USA - Unemployment Rate (Jun) On Thursday, the Dow closed with a decrease as strong job market data prompted expectations of additional Federal Reserve rate hikes. This led to a surge in Treasury yields, causing concerns in the market. The Dow Jones Industrial Average dropped by 1.1% or 366 points, while the Nasdaq and the S&P 500 both experienced declines of 0.8% and 0.80% respectively.

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The confluence of factors within the finance industry and the broader economy led to the onset of the 2008 financial crisis. However, the primary cause of this crisis can be attributed to the deregulation of the financial industry, which allowed banks to participate in hedge fund trading involving derivatives. This deregulation enabled banks to demand an increased number of mortgages to support the profitable sale of these derivatives. To cater to subprime borrowers, the banks introduced interest-only loans that appeared to be affordable.

The US dollar is one of the most widely traded currencies in the world and plays a crucial role in international trade and finance. As a result, many factors can impact the value of the US dollar, including economic indicators, geopolitical events, and changes in monetary policy. Understanding the various factors that affect the US dollar rate is essential for investors, traders, and businesses who rely on the currency for their transactions.

Key events: UK - Composite PMI (May) UK - Services PMI (May)       USA - Services PMI (May) USA - ISM Non-Manufacturing PMI (May) US stocks ended the week on a positive note as investors reacted to several key developments. A labor market report revealing slower wage growth in May suggested that the Federal Reserve might delay a potential interest rate hike in the coming weeks. Additionally, a deal in Washington to avert a disastrous debt default was well-received by market participants.