{"id":32897,"date":"2022-12-02T08:35:23","date_gmt":"2022-12-02T08:35:23","guid":{"rendered":"https:\/\/errante.com\/?p=32897"},"modified":"2022-12-02T08:57:18","modified_gmt":"2022-12-02T08:57:18","slug":"us-november-nonfarm-payrolls-preview","status":"publish","type":"post","link":"https:\/\/errante.com\/ar\/newsroom\/us-november-nonfarm-payrolls-preview\/","title":{"rendered":"US November Nonfarm Payrolls Preview"},"content":{"rendered":"\n

US November Nonfarm Payrolls Preview<\/h2>\n\n\n\n

Fed Chair Jerome Powell sent a clear message on Wednesday that the US central bank will soften its stance and said that it was time to slow the pace of interest rate hikes. Apart from this, signs of easing inflationary pressure and sluggish US Treasury bond yields continue to weigh on the greenback. Investors\u2019 focus now turns to the U.S. Labor Department\u2019s November Nonfarm Payrolls (NFP) data due at 15.30 GMT+2.<\/p>\n\n\n\n

U.S. consumer spending increased solidly in October, while inflation moderated. Rising rates have kept a hold on gold’s traditional status as an inflation hedge this year, as they translate into higher opportunity cost of holding the non-yielding metal.<\/p>\n\n\n\n

Canada\u2019s employment data for November will be reported by Statistics Canada on Friday, December 2 at 15.30 GMT+2.   We expect modest gains with 10.5K in Canadian jobs in November. A return of strong immigration to Canada though could cause the unemployment rate to rise in November to 5.4%, as the labour force participation rate rises. But it would take a more substantial drop in November employment (more than 50K) to significantly raise the probability of a smaller 25 bps hike in December.<\/p>\n\n\n\n

Friday 2nd December High Impact Events<\/h2>\n\n\n\n

The times below are GMT+2<\/p>\n\n\n\n