In August, the US labor market displayed mixed signals, with employers adding 187,000 jobs, slightly outperforming the consensus estimate of 170,000. Still, data for July was revised downward to 157,000 from the initially reported 187,000. However, unique circumstances, such as a strike in the entertainment industry and trucking company Yellow's bankruptcy, impacted the job figures. Excluding these factors, payrolls were on pace for an approximate increase of 241,000.
Read moreU.S. Treasury yields declined Tuesday as investors look to jobs data that could provide hints about the state of the economy and the impact of the Federal Reserve monetary policy.
Amid ongoing worldwide expansion, the most pressing concern in the market at present is whether the US dollar will retain its value through 2024.
US data reports yesterday helped fuel pressure on the US rates and the USD to an extent, despite Q3 GDP getting a small upward revision.
Yesterday’s Fed speakers suggested an openness to another pause at the next FOMC rate decision on December 13th, dropping the USD against its G10 counterparts for the fifth straight day and its lowest level in nearly 4 months.
The US Dollar is trying to put up a fight this Tuesday as the downtrend is coming to a halt for now.
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In August, the US labour market displayed mixed signals, with employers adding 187,000 jobs, slightly outperforming the consensus estimate of 170,000.
