What to Hope For in the November U.S. Jobs Report

One of the many casualties of the recent market turmoil could be the longstanding alignment of the economy, markets and the Federal Reserve when it came to the monthly employment report. Although the data for November, which will be released Friday, are likely to indicate a continuation of the robust job creation, there may be less alignment when it comes to wage growth. That possibility would make a third indicator — labor-force participation — even more consequential. A year ago, when financial markets were strong and there were high hopes for a synchronized global pickup in growth, the trio of the economy, markets and central banks benefited from gains in both employment and wages. That optimism has been dashed by weaker and more volatile markets, as well as declining and more divergent growth. Now, with markets increasingly worried about the erosion of the “central bank put,” there is less unanimity on wages. Read More @ https://www.bloombergquint.com/view/u-s-jobs-report-what-to-hope-for-in-the-data-for-november#gs.oL7wQBk

Job market is strong and hiring robust, in contrast to market fears

WHAT IS THE OIL AND USD TECHNICAL CHARTS ARE SAYING?

OIL took a beating yesterday after the OPEC meeting comes to a standstill; more downside awaits for the Oil if the NFP is good. USD on the other hand recovered from Monday losses and regains its last week price. Tonight NFP data rumoured to be good. Expect Volatility tonight.

TODAYS NEWS THAT MGHT AFFECT YOU TECHNICAL TRADES

  1. ALL DAY OPEC MEETING – Be cautious as OIL goes to the volatility angle once again – CAD will also not be spared for more weakness ahead.
  2. 6.00pm – EUR will release revised GDP and final employment – expect volatility.
  3. 9.30pm – Canada will release their employment and unemployment rate – expected to be weak.
  4. 9.30pm – US will release their NFP data- expected to be good. We buy USD. As MOVES next week for FOMC and rate hike to slowdown the heating economy.
  5. 11.00pm – US will release their UoM CONSUMER SENTIMENT expected no change.

The market will be an interesting one today; with OPEC & NFP data at stake – massive volatility is expected today and teh market can go any direction – be cautious and always have good money management at all times.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

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