Author: FX
Now that Pres. Trump has fired the person in charge of the BLS employment report, Axios wrote an article that outlines the general BLS process to the jobs release. Here is the down and dirty without getting too much into the weeds:Release timing: The Bureau of Labor Statistics (BLS), a nonpartisan agency under the Labor Department, releases the monthly jobs report at 8:30 a.m. ET on the first Friday of each month. Initial snapshot: The report includes the monthly change in employment based on surveys from ~629,000 worksites. It’s a quick but lower-resolution estimate, but it is not without its…
The Canadian Dollar caught a much-needed boost against the US Dollar on Friday.Bearish Loonie flows reversed direction after the US Dollar took a hit post-NFP.Souring US jobs data has knocked the Greenback sharply lower.The Canadian Dollar (CAD) came out on top after a messy US Nonfarm Payrolls (NFP) release shattered global positioning in the US Dollar (USD) on Friday. The Greenback fell across the board after US net job additions fell well short of expectations, with previous months facing sharp downside revisions. The Loonie has pared some losses against the USD, but still remains down sharply for the week.Canadian Dollar…
Fed Gov.Adriana Kugler is resigning her position effective August 8, to accept a position at Georgetown. That opens an appointment from Pres. Trump. Fed governors also have a permanent vote on the Fed. With the president already licking his chops to appoint a new Fed chair, this gives him a total of two appointees. Recall he appointed both Bowman and Waller in his first term. Both of them dissented to ease rates at the last meeting. The Fed is not supposed to be political, but surprise, surprise, it is shifting that way.Kugler was not at the meeting this week for…
The Dow Jones tumbled over 1.85% on Friday peak-to-trough.US NFP jobs figures came in well below expectations alongside steep revisions.A shuddering labor market has reignited hopes for more Fed rate cuts soon.The Dow Jones Industrial Average (DJIA) plummeted almost 2% top-to-bottom on Friday, falling over 800 points from Thursday’s closing bids at its lowest point. Equity markets are scrambling to recover their footing after a disappointing Nonfarm Payrolls (NFP) report that showed the US added far fewer jobs in July than expected.The Dow Jones fell to a five-week low, tapping 43,330 for the first time since late June and running…
WTI Crude Oil falls over 3% intraday on Friday but remains up 2.25% for the week.Geopolitical volatility spikes after US President Trump announces the deployment of nuclear submarines near Russia.Technically, WTI remains trapped in a symmetrical triangle with the price now approaching the lower boundary.West Texas Intermediate (WTI) Crude Oil is under pressure heading into the weekend, with the price sliding over 3% on Friday to trade near $66.70, pulling back from its highest level near $70 since June 23, reached on Wednesday. WTI is trading near $66.67 at the time of writing, down over 3% intraday, as technical resistance…
After flagging a Dow breakdown alert, the broader market finally heeds the warning—this selloff was written on the wall days ago. Introduction Thursday’s rally fizzled as all three major U.S. equity futures hit resistance at their respective “micro 5” upper-channel pivots—Dow at 45,303, Nasdaq at 23,760.75, and S&P 500 at 6,459—only to reverse sharply. By mid-Friday, bears were firmly in control, extending the selloff into a second to fourth consecutive session. This synchronised breakdown underscores waning bullish momentum and heightens the risk of a deeper pullback if critical support levels give way. 1. Dow Futures – Rising-Wedge Breakdown Accelerates Pattern…
Gold price rallies to $3,350 after weak US Nonfarm Payrolls report shows just 73K jobs added in July.May–June payrolls revised down by 258K; labor market turmoil supports Fed doves’ push for cuts.Fed funds futures now price 76% odds of a 25 bps rate cut in September.ISM Manufacturing PMI shows sector remains in recessionary territory; UoM Consumer Sentiment deteriorates.Gold price rallies more than 1.50% on Friday following the release of a dismal Nonfarm Payrolls (NFP) report in the United States (US), which showed the jobs market is cooling faster than expected. Also, an escalation of geopolitical risks between Russia and the…
AUD/USD gives up most of its post-NFP gains but remains modestly higher on the day, still on track for its biggest weekly loss since March.The US NFP report showed only 73K jobs added in July, well below the 110K expected.Australia’s Q2 Producer Price Index slowed to 3.4% YoY and 0.7% QoQ, indicating easing input cost pressures.The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) on Friday, giving back most of its earlier gains despite broad weakness in the Greenback following a disappointing Nonfarm Payrolls (NFP) data. The AUD/USD initially surged nearly 70 pips after US jobs data…
Pres. Trump is back at it.Fire the BLS Commisioner of Labor Statistics. Dr. Erika McEntarfer is a Biden appointee and implies she is manipulating the data.Trump says the economy is BOOMINGBut, the Fed chief needs to be put “out to pasture” as he is too late….No word on the tariffs.My head is spinning. So… if the data doesn’t fit the Pres. expectations, you will be fired.. By the way, the BLS is also in charge of the US CPI and PPI data which are expected to go higher. I wouldn’t want to be working at the BLS.When will this stupidity…
Oil rigs -5 at 410Gas rigs +2 at 124Total -2 at 540Crude oil is sharply lower with the price down -2 dollars at $67.27. The low price reached $67.05.Looking at the hourly chart below, the price decline is testing its 200-hour moving average at $67.08. Earlier today, the price fell below the 100-hour moving average at $68.60. This article was written by Greg Michalowski at investinglive.com. Source link