fbpx
High Leverage FX
  • Home
  • Market News
    • All
    • Economy
    • Forex
    • Markets
    • Opinion
    • Politics
    • Tech
    • World
    Asia bourses trading positive after mixed day on Wall Street

    Asian markets may face challenges following cautious day on Wall Street

    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities opened with firm foot amid tailwinds from Wall Street

    Asian equities poised for potential pressure as US stocks retreated

    USD/MYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities could trade under pressure as global equities sold off yesterday

    Asian equities could trade under pressure as global equities sold off yesterday

  • Economic Calendar
  • About Us
  • Trading Signals
  • Free Demo Account
High Leverage FX
  • Home
  • Market News
    • All
    • Economy
    • Forex
    • Markets
    • Opinion
    • Politics
    • Tech
    • World
    Asia bourses trading positive after mixed day on Wall Street

    Asian markets may face challenges following cautious day on Wall Street

    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities opened with firm foot amid tailwinds from Wall Street

    Asian equities poised for potential pressure as US stocks retreated

    USD/MYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities could trade under pressure as global equities sold off yesterday

    Asian equities could trade under pressure as global equities sold off yesterday

  • Economic Calendar
  • About Us
  • Trading Signals
  • Free Demo Account
High Leverage FX
No Result
View All Result
Home Market News Markets

Market Preview – NFP Forecast

Nathan Batchelor by Nathan Batchelor
June 2, 2023
in Markets
Reading Time: 2 mins read
0
Market Insight – February Non-farm Payrolls Job Report
390
SHARES
18.3k
VIEWS
Share on FacebookShare on Twitter

The US monthly jobs report is set to be released today and the consensus estimate is for 190,000 jobs to be released and the Unemployment rate consensus estimate is for 3.5% vs 3.4% prior.

An upside surprise is possible given that Private businesses in the US created 278,000 jobs in May of 2023, compared to a downwardly revised 291,000 in April and well above forecasts of 170,000.

It is important to note that the US economy unexpectedly added 253,000 jobs in April 2023, beating forecasts of 180,000 and following a downwardly revised 165,000 in March.

The April number largely exceeds the 70,000-100,000 monthly job gain needed to keep up with growth in the working-age population and compares with the average monthly gain of 290,000 over the prior 6 months.

The March reading was revised sharply lower to 165,000 from an initial estimate of 236,000, so do keep an eye on revisions. In terms of market forecasts Participation rate prior 62.6%.

Banks are also out with their forecasts and Morgan Stanley are looking for a below consensus headline. They note that “We expect total nonfarm payrolls increased by 170k in May.”

They state that “an uptick in participation from 62.56% to 62.62%” and “We expect average hourly earnings to increase by 0.3%M, holding the year-over-year rate at 4.4%.”

Bank of America have been also out with their predictions and our slightly more bullish as they note that “we forecast a 200k increase in Non-farm payrolls”. They also expect the unemployment rate to remain at 3.4%.

BOA quantify this and say this “would leave payroll growth well above levels needed to offset the pace of natural growth in the labour force, thereby putting downward pressure on the unemployment rate in an already tight labour market.”

Tags: NFPus economyUS Labour Market
Previous Post

GBPUSD Technical Analysis - Watching the waves

Next Post

Gold Technical Analysis - Watch out for more downside

Nathan Batchelor

Nathan Batchelor

Related Posts

Asia bourses trading positive after mixed day on Wall Street
Markets

Asian markets may face challenges following cautious day on Wall Street

September 22, 2023
Asian equities opened with firm foot amid tailwinds from Wall Street
Markets

Asian equities poised for potential pressure as US stocks retreated

September 21, 2023
Asian equities could trade under pressure as global equities sold off yesterday
Markets

Asian equities could trade under pressure as global equities sold off yesterday

September 20, 2023
Midday Brief – Central Bankers Field Day
Markets

Investors brace for upcoming central bank updates this week

September 19, 2023
Mixed start to Asian equities following mostly downbeat lead from Wall Street
Markets

Asian markets poised for positive trading, buoyed by Wall Street’s upbeat session

September 15, 2023
Asian equities could take a boost after strong gains seen on US equities
Markets

Asian equities could trade mixed following volatile session on Wall Street

September 14, 2023
Next Post
Gold Technical Analysis – Bulls Continue to Fight

Gold Technical Analysis - Watch out for more downside

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


Market Overview

Categories

  • Economy
  • Forex
  • Gadget
  • Markets
  • Opinion
  • Politics
  • RSS Feed
  • Startup
  • Tech
  • Trading Signals
  • Uncategorized
  • World

Site Navigation

  • Home
  • Market News
  • Economic Calendar
  • About Us
  • Trading Signals
  • Free Demo Account
  • Home
  • Market News
  • Economic Calendar
  • About Us
  • Trading Signals
  • Free Demo Account

© 2019 High Leverage FX - All Rights Reserved.

No Result
View All Result
  • Home
  • Market News
    • Forex
    • Economy
    • Opinion
    • World
    • Markets
    • Politics
  • Economic Calendar
  • Trading Signals
  • About Us
  • Free Demo Account
[gtranslate]

© 2019 High Leverage FX - All Rights Reserved.