Good Morning Traders!
It is Friday the 7th of July, and here are some things to watch out for today.
Sentiment
According to economists, preliminary signs of weakness in the US labor market will not be enough to deter the Federal Reserve from further interest-rate increases.
US Treasury Secretary Janet Yellen stated that competition among the world's largest economies is not a "winner-take-all" situation and urged the US and China to manage their rivalry through a fair set of rules.
Biden will announce steps his administration is taking to help reduce healthcare costs, including the targeting of so-called junk insurance plans and unexpected medical bills, as part of an effort to rein in high consumer prices that have been a persistent political liability.
According to monetary expert John Taylor, the Federal Reserve needs to raise interest rates even more in order to control an out-of-control inflation rate.
According to the National Association of Realtors, housing in the United States was less affordable in April than the previous month.
Docket
08:30 AM ET
US Nonfarm Payrolls - Median Forecast: 225K | Prior: 339K | Range: 350K / 110K
US Unemployment Rate - Median Forecast: 3.6% | Prior: 3.7% | Range: 3.8% / 3.5%
US Average Earnings YoY - Median Forecast: 4.2% | Prior: 4.3% | Range: 4.3% / 4.2%
US Average Earnings MoM - Median Forecast: 0.3% | Prior: 0.3% | Range: 0.4% / 0.3%
Canadian Employment Change - Median Forecast: 20K | Prior: -17.3K | Range: 54.5K / -15K
Canadian Unemployment Rate - Median Forecast: 5.3% | Prior: 5.2% | Range: 5.4% / 5.1%
If you would like some notes before NFP Read Here
Speakers
10:30 AM ET
BoE's Mann speaks as a Panellist in New York at the 2023 Annual Meeting of the Central Bank Research Association, ‘Challenges for policy after the return of inflation: New directions for research?'
11:30 AM ET
Fed's Goolsbee speaks on CNBC.
Good Luck Traders!
