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💡 What are the expected scenarios for the US employment data that will be released today?
📊 Markets are awaiting the release of US employment data today at 3:30 PM Riyadh time, as expectations indicate that the economy will add 182 thousand jobs, wages will grow by 0.3%, and the unemployment rate will remain unchanged at 3.9%.
🌟 It is expected that these data, as usual, will greatly affect the movement of major currencies, especially the #US_Dollar, #Euro and #Japanese_Yen index. In addition to #gold, which is awaiting new fundamental drivers to indicate its direction, especially with the signals that may result from them regarding the decisions of the #Federal_Reserve.
The first scenario is that the US jobs report will be negative, with the unemployment rate rising higher than expectations and from the previous period, which indicated 3.9%, and that the number of new jobs will be less than 182 thousand, in addition to a decline in average hourly wages. This scenario will support expectations and increase From speculation about the imminent date of interest rate cuts by the Federal Reserve. Which reflects negatively on the US dollar index and US Treasury bond yields, and positively on gold and stocks, of course.
The second scenario is for the employment report to be positive, with new jobs rising by more than 182,000 and the unemployment rate falling to less than 3.9%, which will increase market speculation about the US Federal Reserve not rushing to lower interest rates due to strong support from the economy. This will have a strong impact on the movements of the US dollar, which will rise significantly with US Treasury bond yields, in addition to negative pressure on gold, stocks, the euro, and the yen.
