Previous Trading Days Events 06 Dec 2023

According to the ADP report, the S. private payrolls increased less than expected in November due to the cooling of the labour market.

Private employment increased by 103K jobs last month beating the forecast of a 131K increase. The ADP report was published ahead of the NFP release tomorrow. The labor market is slowing down as 525 basis points worth of interest rate hikes took effect, since March 2022.

The labour market conditions are easing and inflation is cooling significantly, leaving financial markets to believe that the Feds monetary policy tightening campaign is over and that the U.S. central bank could cut rates as soon as next March.

Source

httpswww.reuters.commarketsususprivatepayrollsmissexpectationsnovember20231206

The Bank of Canada BoC on Wednesday held its key overnight rate at 5 leaving the door open to another hike, saying it was still concerned about inflation. The central bank raised rates by a quarter point in both June and July to a 22year high and has left them on hold causing an economic slowdown and a general easing of prices.

Governing Council is still concerned about risks to the outlook for inflation and remains prepared to raise the policy rate further if needed, the BoC said in an unusually curt, fiveparagraph statement. It said it wanted to see a further and sustained easing in core inflation.

Higher interest rates are clearly restraining spending, the BoC said. Oil prices are about 10…