SILVER XAGUSD SILVER BULLS WINS ON ECONOMIC DATA REPORT AND KEEPS GAINS
BREAKDOWN.
Indicator Current Forecast Previous
Average Hourly Earnings m/m 0.3% 0.3% 0.3%
Non-Farm Employment Change 22,000 75,000 79,000
Unemployment Rate 4.3% 4.3% 4.2%
Fed Interpretation:
Average Hourly Earnings (0.3% m/m): In line with forecasts and previous data, showing steady wage growth. Stable wage growth suggests moderate inflation pressure from labor costs.
Non-Farm Employment Change (22,000): Significantly below forecast (75,000) and previous month (79,000), indicating a sharp slowdown in job creation. This suggests labor market cooling, potentially reflecting economic slowdown or more cautious hiring by employers.
The agency responsible for the US Non-Farm Employment Change data is the U.S. Bureau of Labor Statistics (BLS), which is part of the U.S. Department of Labor
The report, often released on the first Friday of each month, measures the change in the number of people employed in the US excluding farm workers, private household employees, and nonprofit organization employees.
It is based on the Current Employment Statistics (CES) survey which covers about 141,000 businesses and government agencies, representing approximately 486,000 worksites.
The data provides detailed insights into employment, hours worked, and earnings across various industries.
The report is closely watched as a key indicator of labor market health and overall economic performance.
Unemployment Rate (4.3%): Slightly increased from previous 4.2%, matching forecast. A rising unemployment rate confirms some softening in labor market conditions.
The agency responsible for measuring and reporting the Unemployment Rate in the United States is the U.S. Bureau of Labor Statistics (BLS), which is part of the U.S. Department of Labor (DOL).
Key Points:
The Unemployment Rate is part of the monthly Employment Situation Report produced by the BLS.
It measures the percentage of the labor force that is jobless but actively seeking work.
Data for the unemployment rate is collected through the Current Population Survey (CPS), which surveys approximately 60,000 households.
The BLS releases the unemployment rate and other labor statistics on the first Friday of every month.
The Department of Labor oversees the BLS, which is responsible for gathering and disseminating this critical labor market data that influences economic policy, including Federal Reserve decisions.
Summary:
U.S. Bureau of Labor Statistics (BLS): the official source for the unemployment rate.
U.S. Department of Labor (DOL): the parent department supervising BLS operations.
The unemployment rate data helps assess economic health and guides policy decisions on employment and inflation.
Overall Fed Takeaway:
The marked slowdown in job growth combined with a slight rise in unemployment signals weakening labor market strength
Stable wage growth limits upside inflation risks from labor costs.
These signals suggest easing inflation pressures and a slowing economy, which might encourage the Fed to pause further rate hikes or consider cutting rates soon to support growth.
The Fed will likely weigh this data alongside other inflation and economic indicators to decide the next policy step but may lean cautiously towards easing given the weaker jobs data.
In summary, today’s data points to a moderating labor market with controlled wage inflation that supports a more dovish Fed approach in upcoming meetings.
DXY DEFENDED 97,428 ON DATA RPORT AND CLOSE THE 4HR ABOVE KEY SUPPORT STRUCTURE TO 97.722 AS AT REPORTING.
THE US 10Y BOND YIELD 4.056% SINKING TODAY BUT ON STRUCTURE THE US10Y IS ON DEMANDFLOOR AND BOND BUYING COULD OFFSET GOLS GAINS TODAY.
OPEN OF NEXT WEEK GOLD WILL CORRECT BECAUSE ITS OVER BOUGHT.
#GOLD #DXY #US10Y #DOLLAR
