JOB RESERVATIONS
US weekly jobless claims rise labor market slows
The labor market shows signs of easing as unemployment benefits claims increase. Layoffs rise due to interest rates impacting demand, and challenges in seasonal data adjustments persist. Market anticipates Fed's potential rate cuts. Job cuts decrease in June, but higher than last year. Nonfarm payrolls data may reveal job increase. Job openings ratio remains steady, while Fed deliberates policy changes post-hikes. Continuing claims rise due to policy effects.
Yen slides to fresh lows as Japan authorities stick to sidelines
The Australian dollar rose on retail sales data, suggesting a Reserve Bank rate hike, while China's yuan hit an eight-month low due to local authorities' currency tolerance.
Dollar on the defensive amid lower yields, yen hovers near 38-year trough
The dollar weakens after Powell's dovish U.S. bond yield comments, amid potential Japanese intervention during U.S. holiday. Concerns over Biden presidency and easing long-term Treasury yields persist, as local inflation remains steady and the Australian dollar sees a rise.
US job openings rise to 8.1 million despite higher interest rates
U.S. job openings increased slightly to 8.1 million in May, despite higher interest rates aimed at cooling the labor market, as reported by the Labor Department. Layoffs rose slightly, while the number of Americans quitting their jobs remained stable. The economy and job market have shown resilience despite the Federal Reserve's efforts to raise rates. Job openings have decreased since a peak in March 2022, signaling a possible slowdown in the economy.
Interviewers don't have access to candidate's quota info: UP Govt
The govt's replay came after Apna Dal (S) chief Anupriya Patel alleged bias against backward, scheduled caste (SC) and scheduled tribe (ST) aspirants. The state government further said that if aspirants belonging to any category do not get the average qualification marks, then the commission does not have the right to change the unfilled vacancies into a different category and that these vacancies are "carried forward".
Jobs, inflation data may break the US Treasury market out of narrow range
Bond market trends are closely tied to Powell's testimony, economic indicators, and Treasury yield movements. Factors like the recent Australia inflation rebound, central bank actions, and insights from Macquarie Group are key considerations for investors navigating market uncertainties.
Reserved vacancies in UP sometimes filled with General candidates: Anupriya Patel to UP CM Yogi
Union minister Anupriya Patel has raised concerns about the recruitment process in UP government jobs, particularly those given through interviews. She claims reserved category vacancies are sometimes filled with general candidates, as no suitable reserved category candidate has been found. Patel, an OBC, argues that candidates from OBC/SC/ST categories have met the minimum qualifying criteria and are eligible for these posts.
With strong job growth, rate cuts by US Fed before polls unlikely: Jefferies
With the US economy having created far more jobs than expected in May and consumer inflation in the country still looming above a comfortable range, its central bank Federal Reserve is unlikely to tinker with policy rates ahead of the much-awaited Presidential election scheduled later this year.
Hong Kong stocks fall to one-month low, China down on strong US jobs data
Hong Kong stocks hit a month low post-weekend break due to strong U.S. employment data impacting Fed rate cut expectations. Mainland China stocks also dropped, affected by consumer sector and non-ferrous metal industry downturns.
India bond yields seen rising tracking US peers
Indian government bond yields are expected to rise due to a spike in U.S. Treasury yields after strong economic data. The benchmark 10-year yield in India is likely to move in a 7.01%-7.06% range on Monday.
Oil slips on dollar's strength from US jobs data
Oil prices slipped on Monday due to a stronger dollar and delayed interest rate cuts following strong U.S. jobs data. Developments in Iraq, including progress in oil export talks with the Kurdistan region, impacted market sentiment.
JPMorgan, Citi scrap Fed rate-cut bets for July after jobs data
JPMorgan's chief US economist, Michael Feroli, stated in a report on Friday that "the recent momentum in job growth" indicates that the "broader" labor-market weakening, which the Fed mentioned could justify a rate cut, might take more than three months to materialize.
Oil dips on deflated US interest rate cut expectations, OPEC+ decision
Oil prices fell for a third consecutive week as investors considered OPEC+ reassurances and the latest U.S. jobs data impacting Federal Reserve interest rate decisions.
US stocks close slightly lower; jobs data strong but rates still high
Wall Street stocks ended slightly lower on Friday after strong U.S. jobs data raised concerns about the Federal Reserve's stance on interest rates. The Labor Department reported 272,000 jobs in May, exceeding expectations, with a 4% unemployment rate.
US adds far more jobs than expected in May
The U.S. job market showed strong growth in May, with nonfarm payrolls increasing by 272,000 jobs, surpassing economists' expectations. The unemployment rate rose slightly to 4.0%, ending a 27-month streak below 4%. Despite recent softening, the labor market's resilience has kept the Federal Reserve cautious about cutting interest rates, likely delaying any rate cuts until at least September. However, other indicators suggest the job market may be loosening, prompting the Fed to closely monitor economic conditions to avoid overcooling the economy.
Stocks and bonds fall in run-up to US Jobs report
Stocks and bonds lost steam ahead of the US jobs report, impacting the Federal Reserve's next steps. Traders refrained from big bets as equities retreated from all time highs.
S&P 500, Nasdaq close at record highs as data supports Fed easing
S&P 500 and Nasdaq hit record highs on Wednesday fueled by tech stocks amid expectations of Fed's easing cycle, impacting various sectors and economic indicators.
India's services sector softens to five-month low in May: PMI report
India's services growth slowed to a five-month low in May due to weaker domestic demand, despite record export growth and a 21-month high in job creation. The services PMI fell to 60.2 from 60.8 in April. Input costs rose, intensifying price pressures and possibly delaying interest rate cuts by the RBI.
Wall Street stocks end slightly higher as weak jobs data supports rate cut
U.S. stocks rose on Tuesday as labor market data hinted at a Fed rate cut. Axos Financial dropped after Hindenburg Research shorted the stock.
Load More
