周五的非农就业数据未达预期，新增就业岗位 175,000 个，低于预期的 250,000 个，整体失业率跃升至3.9%，但劳动力市场的冷却正是美联储和市场所期待的。 美联储多次表示，它正在寻求劳动力市场降温，以缓解通胀压力，这是回到2%或以下目标区间所必需的。 我们又回到了“坏消息是好消息”的环境，坏的经济消息受到市场欢迎，因为这可能会鼓励美联储降息。 数据显示美国宏观经济形势正在恶化，增长放缓，通胀回升，这正在走向欧洲目前正在遭受的“滞胀”危机。 债券上涨伴随着债券收益率和美元的大幅下跌，使得欧元重回1,0750，而英镑则反弹至1.2550。
商品货币再次成为美元疲软的受益者，澳元突破0.6600，而纽元则有望重拾0.6000的“大数字”。 欧洲和美国的经济状况要求采取降息形式的刺激措施，美联储面临着跟随欧洲央行预期降息的压力。 消除通货膨胀的最佳方法是经济衰退，但在美国总统选举年，这并不是一个政治上精明的做法。 未来一周的重点是澳大利亚央行和英格兰银行的利率决定。 预计这些央行将效仿美联储，维持利率稳定，同时降息的压力也越来越大。
The important Non-Farm Payrolls missed expectations Friday, coming in at 175,000 jobs added, from an anticipated 250,000. The headline unemployment rate jumped up to 3.9% and the easing of the labour market, is exactly what the Federal Reserve and markets were looking for. The Fed has stated many times that it is looking for the labour market to cool, to take the heat off inflation, which is needed to return to the target band of 2% or below. We are back in the ‘bad news is good’ dilemma, where the bad economic news is greeted by markets, because it may lead to encourage the Fed to cut rates. The Macro-Economic situation in the US is deteriorating, with growth slumping and inflation back on the rise. This is heading towards the ‘stagflationary’ crises that Europe is currently suffering. The rally in bonds was accompanied by a sharp fall in bond yields and the US Dollar, allowing the EUR to regain 1,0750, while the GBP rallied to 1.2550.
Commodity currencies were once again beneficiaries of the softer reserve, with the AUD breaking back above 0.6600, while the NZD looked to regain the ‘Big Figure’ of 0.6000. Economic conditions in Europe and the US, are demanding stimulus, in the form of lower interest rates and the pressure is on the Fed to follow the anticipated cuts expected from the ECB. The best way to disappear inflation, is recession, but it is not a politically astute modus operandi, in a US Presidential Election year. The coming week is highlighted by interest rate decisions from both the RBA and Bank of England. These Central Banks are both expected to hold rates steady, following the lead of the Fed, while pressure builds for relieving interest rate cuts.
商品货币再次成为美元疲软的受益者，澳元突破0.6600，而纽元则有望重拾0.6000的“大数字”。 欧洲和美国的经济状况要求采取降息形式的刺激措施，美联储面临着跟随欧洲央行预期降息的压力。 消除通货膨胀的最佳方法是经济衰退，但在美国总统选举年，这并不是一个政治上精明的做法。 未来一周的重点是澳大利亚央行和英格兰银行的利率决定。 预计这些央行将效仿美联储，维持利率稳定，同时降息的压力也越来越大。
The important Non-Farm Payrolls missed expectations Friday, coming in at 175,000 jobs added, from an anticipated 250,000. The headline unemployment rate jumped up to 3.9% and the easing of the labour market, is exactly what the Federal Reserve and markets were looking for. The Fed has stated many times that it is looking for the labour market to cool, to take the heat off inflation, which is needed to return to the target band of 2% or below. We are back in the ‘bad news is good’ dilemma, where the bad economic news is greeted by markets, because it may lead to encourage the Fed to cut rates. The Macro-Economic situation in the US is deteriorating, with growth slumping and inflation back on the rise. This is heading towards the ‘stagflationary’ crises that Europe is currently suffering. The rally in bonds was accompanied by a sharp fall in bond yields and the US Dollar, allowing the EUR to regain 1,0750, while the GBP rallied to 1.2550.
Commodity currencies were once again beneficiaries of the softer reserve, with the AUD breaking back above 0.6600, while the NZD looked to regain the ‘Big Figure’ of 0.6000. Economic conditions in Europe and the US, are demanding stimulus, in the form of lower interest rates and the pressure is on the Fed to follow the anticipated cuts expected from the ECB. The best way to disappear inflation, is recession, but it is not a politically astute modus operandi, in a US Presidential Election year. The coming week is highlighted by interest rate decisions from both the RBA and Bank of England. These Central Banks are both expected to hold rates steady, following the lead of the Fed, while pressure builds for relieving interest rate cuts.
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