Goldman Sachs expects that the economy to add 50,000 jobs in September, unemployment to 4.5%, while average hourly earnings is expected to rise by 0.4% on a monthly basis and 2.7% year over year.
The US dollar succeeded in stabilizing higher than an important support at the end of the third quarter of 2017, as the dollar index rose from 92.40 after it continued its decline since the end of the first quarter of the year, reaching the lowest level since January 2015 at 90.97.
The following are the highlights of the Reserve Bank of Australia's monetary policy meeting minutes in September:
The three major indexes of US stocks fell today, from their highest levels in yesterday's closing, following positive inflation data that boosted the chances of a rate hike soon. The consumer price index rose more-than-expected in August, the biggest reading in seven months, by 1.9 % on yearly basis.
The dollar rose significantly in today's trading following news of tax reforms announced this month as the dollar index rose from a daily low of 91.67 to currently trade at 92.38, while the USDJPY rallied to its highest level since August 16 at 110.68.
The National Australia Bank revised its expectations for the Reserve Bank of Australia's monetary policy and after it had expected a rate cut twice, it now expects the central bank to raise interest rates in August 2018 by 25 basis points, in November 2018 by 25 basis points, as well as a double rate hike in 2019.
British unemployment fell to lowest level is 42 years of 4.3% in the three-month to July, it is the lowest reading since 1975, from a previous 4.4%. Employment levels rose by 181,000 jobs in the last three months to 32.1 million, the strongest since the last quarter of 2015, with employment rate rising to new record highs of 75.3%.
This week the markets are looking at many important economic data that will have an impact on market movements. Below are the highlights of these events and data.
Japan's consumer spending unexpectedly fell in July despite a continuing improvement in the labor market, providing some hope for faster wage growth and thus helping the world's third-largest economy to get rid of long decades of deflation.
Initial jobless claims rose slightly to 234,000 in the week ending Aug. 19 from 232,000 in the previous week. The reading was lower than expectations, which indicated a rise to 238K applications, and today's reading is the second lowest week since May.
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