US Jobs report and nonfarm payrolls data outlook

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/05/inflation-us-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2022/05/inflation-us-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/05/inflation-us-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/05/inflation-us-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/05/inflation-us-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/05/inflation-us-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/05/inflation-us-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/05/inflation-us.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><p>The dollar set itself on track for its longest winning streak since September 2023 and the 10-year US Treasury yield rose one basis point at 4.01%. The US data due to be released later today will contain information regarding rate cuts from the Federal Reserve, with market sentiment predicting good nonfarm payrolls data.</p>
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<p>After employment figures are made public, swap traders may predict a 65% chance of rate cuts from the Fed, according to a Yahoo Finance! report. More specifically, the report suggests the Fed will bring further cuts in March of this year, with the 10-year US yield sitting as high as 4.15%. Traders are also concerned with euro-zone inflation, which will shape European Central Bank Policy (ECB).</p>
<div><img aria-describedby="caption-attachment-451747" decoding="async" class="wp-image-451747" src="https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-Jobs-report-and-nonfarm-payrolls-data-outlook-5796502679-700×700.jpg" alt="" width="98" height="98" srcset="https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-Jobs-report-and-nonfarm-payrolls-data-outlook-5796502679-700×700.jpg 700w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-Jobs-report-and-nonfarm-payrolls-data-outlook-5796502679-250×250.jpg 250w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-Jobs-report-and-nonfarm-payrolls-data-outlook-5796502679-150×150.jpg 150w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-Jobs-report-and-nonfarm-payrolls-data-outlook-5796502679-768×768.jpg 768w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-Jobs-report-and-nonfarm-payrolls-data-outlook-5796502679-120×120.jpg 120w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-Jobs-report-and-nonfarm-payrolls-data-outlook-5796502679-245×245.jpg 245w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-Jobs-report-and-nonfarm-payrolls-data-outlook-5796502679-500×500.jpg 500w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-Jobs-report-and-nonfarm-payrolls-data-outlook-5796502679.jpg 800w" sizes="(max-width: 98px) 100vw, 98px" /><p>Jun Rong Yeap Source: LinkedIn</p></div>
<p>Jun Rong Yeap, a strategist at IG Asia, noted:</p>
<blockquote><p>In the lead-up to the upcoming US job numbers, sentiment is back to wait-and-see. We may have to see a substantial weakening of the US labour market to justify market pricing of a rate cut as early as March.</p></blockquote>
<p>In November 2023, US unemployment fell to 3.7% after the US economy added approximately 199,000 jobs. Investors continue to hope that the Fed achieve its “soft landing” this year, where <a href="https://www.leaprate.com/forex/market-news/japanese-stocks-see-incline-as-inflation-data-softens/" target="_blank" rel="noopener">inflation</a> lowers to the 2% Fed goal, helping to balance trading and the economy after a rocky 2023.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/news/us-jobs-report-and-nonfarm-payrolls-data-outlook/">US Jobs report and nonfarm payrolls data outlook</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>