Interpretation of the results of the US macroeconomic data on June 6:
Based on several data with little short-term impact, the recommended reading index is ★★
The number of layoffs in US challenger companies in May (10,000 people) was 63,816, which was slightly lower than the previous value.
Influence ★
This value shows that the number of layoffs in May decreased. From a single data point of view, it is conducive to a decline in the unemployment rate, but the overall number of layoffs decreased slightly. The data has little impact on the decline in the unemployment rate, but it may bring more resistance to the rise in the unemployment rate (the rise in unemployment rate is good for the risk market)
The number of initial unemployment claims in the United States for the week ending June 1 (10,000 people) was 22.9, higher than expected and the previous value.
Influence ★
The data shows the change in the number of initial unemployment claims from June 1 to the current week. The value is 220,000 higher than expected and 221,000 higher than the previous value. The increase in the number of initial unemployment claims proves that the US job market deteriorated in the short term in early June, with fewer job opportunities or more layoffs. However, this data is June data, which is not currently the impact range of the macro sentiment in May, so the impact is relatively small.
The US trade account in April (billion US dollars) recorded -745, lower than the expected -761, higher than the previous value of -686,
Influence★
This data is the data accounting of US imports and exports in April. The value is negative, proving that the US imports and exports are currently in deficit, and the deficit value has increased from a deficit of 68.6 billion last month to a deficit of 74.5 billion this month. The trade deficit has increased, proving that US imports are larger than exports, which is not conducive to the economic outlook and will also bring downgrades and cooling. The trade deficit in April will have a positive effect on inflation control in May.
The US EIA natural gas inventory (billion cubic feet) recorded 980 in the week ending May 31, higher than the expected 900 and the previous value of 840,
Influence★
This data is the natural gas inventory data of the last week of May in the United States. The data shows that the natural gas inventory increased by 98 billion cubic feet in the last week, which is higher than the expected and previous value. The higher inventory will effectively reduce the supply and demand of the natural gas market and bring less pressure to the US inflation data in May.
Although these fragmentary data seem to have no effect on the current market, by recording and understanding these data, we can effectively understand and predict the trend of inflation in the United States. For example, if crude oil inventories decrease significantly and natural gas inventories decrease, prices will inevitably rise, leading to increased inflation. Energy is also an important component of living inflation.
Although the focus of this week’s game is tomorrow’s unemployment rate and non-farm payrolls data, next week is the release date of the US CPI for May. Next week’s game is the inflation issue in May. If the unemployment rate does not rise to 4% or higher this week and does not bring too much substantial benefits to the market, then next week’s inflation data will become the focus in the near future. And if the market sentiment this week does not allow Bitcoin to rush above 72,000, then next week is likely to usher in a correction after weak data.
