One of the most significant monthly economic data for investors is the release of the United States Non-Farm Payroll Report. This figure carries great significance for traders as it indicates job growth in the United States.
Investors will be focusing on key data from the United States as the Bureau of Labor Statistics will release the non-farm payrolls data on Friday, 12:30 GMT.
In July, Payroll growth rose in line with expectations, while the unemployment rate remained at 3.7 percent amid a jump in the size of the labor force to 163.4 million, its highest level ever.
The unemployment rate is expected to remain unchanged from the previous figure of 3.7 percent.
Also, The U.S. Dollar Index, which measures the strength of the dollar against a basket of six major currencies strengthened and rose by 2.76 percent from the 1st of July until 31st of August as the tension between the U.S. and China regarding the prolonged trade war eased a little bit in August.
Last week, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System said the economy is in a favorable place, and Fed will act as appropriate. Moreover, the Federal Open Market Committee (FOMC) is set to meet in two weeks on the 18th of September, according to the Fed Rate Monitor Tool 91.5 percent of analysts are expecting the Fed to lower the interest rates by 0.25 percent.
In Bonds Market, The U.S. Treasury yield curve was its steepest in more than two weeks on Wednesday as risk sentiment improved, driving longer-dated yields higher, following the easing of geopolitical tensions in Hong Kong and Great Britain.
This slowdown brought on by slower growth abroad and the U.S.-China trade war. As a slowing global economy is pressuring central banks abroad to lower rates at unprecedented levels and tariff war between Washington and Beijing is weighing on business sentiment.
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