This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The penultimate payrolls report for the year 2019 is due to come out later today.
The report will be closely watched with economists forecasting that payrolls will rise 183,000 for the month of November. Elsewhere, the unemployment rate is tipped to hold steady at 3.6%. No changes are expected to wage growth which is forecast to rise 3% on the year.
The payrolls report will be key as investors assess the health of the US economy for the fourth quarter. While there was a slowdown in the previous quarter, the Fed rate cuts could see a reversal.
The data for October surprised to the upside. Economists view a similar trend taking place in November as well. This comes after the impact of the strike at General Motors ended.
If the economic data comes in line with the estimates, the nonfarm payrolls for November would be the highest since August this year.
From a policy perspective, the November jobs report is likely to give officials enough breathing spa...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.