Benzinga
Published May 31, 2023 17:56
Updated May 31, 2023 19:10
Strong Non-Farm Payrolls Ahead? Expect Aggressive Fed Rate Hikes, Macro Wiz Says
Benzinga - Investors are eagerly anticipating the release of the non-farm payrolls, unemployment rate and salary growth figures this Friday, which are expected to be the key economic readings of the week.
Rate-sensitive assets are expected to exhibit heightened volatility in response to any unexpected outcomes.
The data serves as the final key indicator before the June 14 release of inflation data and the concurrent Federal Open Market Committee meeting.
The Consensus: According to market expectations, the upcoming non-farm payrolls report for May is projected to show an increase of 190,000 jobs, down from the 253,000 jobs added in April. The unemployment rate is anticipated to tick up slightly from 3.4% to 3.5%, while average hourly earnings are forecasted to rise by 0.3% on a monthly basis, following a 0.5% increase in the previous month.
Next: US Dollar Rises To 10-Week Peak With Debt Ceiling Breakthrough, Rate Hike Buzz - Crucial House Vote Wednesday
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