NFP - AugRisk assets fall sharply
2024-09-06
Summary:
US job growth in July slowed more than expected, raising fears of a broader economic slowdown and causing risky assets to tumble throughout the month.
Aug NFP
6/9/2024 (Fri)
Previous (Jul)：114k Forecast: 165k
Job growth in the US slowed much more than expected during July, fuelling fears of a broader economic slowdown. That sent risky assets tumbling in the last month.
Nonfarm payrolls grew by just 114,000 for the month, down from the downwardly revised 179,000 in June. The unemployment rate edged higher to 4.3%, its highest since October 2021.
The rise in the unemployment rate brings into play the so-called Sahm Rule, which states that the economy is in recession when the three-month average of the jobless level is 0.5% higher than the 12-month low.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Gold hits all-time high as Fed rate-cut hopes bolster appeal
Gold prices jumped 1.5% to a record high, fueled by expectations of a Fed rate cut after U.S. data signaled an economic slowdown.
2024-09-13
Japan stocks jump 3% as yen slips
Asian stocks rose on Thursday, following Wall Street's tech rally. Japan's Nikkei 225 surged 3%, while Chinese markets continued to struggle.
2024-09-12
US CPI Aug - July CPI growth met expectations
July inflation rose as expected due to higher housing costs, increasing the chance of a September rate cut, says the Labor Department.
2024-09-11
