Previous Trading Days Events 06 Dec 2023

New claims for unemployment benefits increased moderately last week, suggesting that the labour market is actually cooling and coinciding with the other reports that suggest the same thing.

There is no cumulative deterioration yet in the labour market that has caused previous Fed chairs to pivot quickly from rate hikes to rate cuts to support the economy, said Christopher Rupkey, chief economist at FWDBONDS in New York. The data will keep the Fed on the sidelines watching carefully with the risks of doing too much or too little roughly balanced.

The government reported this week that there were 1.34 job openings for every unemployed person in October, the lowest since August 2021.

Wholesale inventories declined 0.4 in October, instead of falling 0.2 as estimated last month.

Financial markets concluded that the Feds monetary policy tightening campaign is over and are anticipating a rate cut as soon as the first quarter of 2024, according to CME Groups FedWatch Tool.

Source httpswww.reuters.commarketsususweeklyjoblessclaimsincreaseslightly20231207

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News Reports Monitor Previous Trading Day 07 Dec 2023

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Midnight Night Session Asian

No important news announcements, no special scheduled releases.

MorningDay Session European and N. American Session

The U.S. insurance weekly unemployment claims figure was released at 1530 showing that expectations were…