Friday preview: US non-farm payrolls, Fedspeak in the spotlight
By Alexander Bueso
Date: Friday 06 Dec 2024
(Sharecast News) - As occurs at the start of each month, all eyes will turn towards the US on Friday and the release of the latest monthly non-farm payrolls figures.
Consensus is for hiring to have picked up to a pace of around 200,000 people in November after a mere 12,000 person increase in October.
But even if economists forecasts are correct, the average for the last two months would still show a decidedly softer pace of hiring, although on a three-month basis payrolls would be up by a more respectable 150,000.
Hurricanes and strikes are thought to have subtracted around 100,000 from October's pace of hiring.
The unemployment rate meanwhile is seen ticking higher by one tenth of a percentage point to 4.2%.
For his part, heading into today's payrolls report, Stephen Innes, managing partner at SPI Asset Management noted the recent upgrade by the Atlanta Federal Reserve Bank's GDPNow model of its fourth quarter US GDP growth estimate to 3.3%.
Worth noting, Fed funds futures were last discounting 72% odds of a 25 basis point interest rate cut by the Federal Reserve at its 18 December policy meeting, such that Friday's data might yet lead markets to price out a cut - although the odds of a reduction by January were seen at 80%.
Also due out are the preliminary results for the University of Michigan's consumer confidence survey covering the month of December.
At least four top Fed officials are also scheduled to take to the podium following the release of the latest jobs data.
In the UK, overnight Halifax will publish its House Price Index for November.
It will be followed at 0700 BST by German industrial production data.
Friday 06 December
INTERIM DIVIDEND PAYMENT DATE
Aurora Investment Trust, Balfour Beatty, JD Sports Fashion, Mincon Group (CDI), SThree, Whitbread, Young & Co's Brewery 'A' Shares, Young & Co's Brewery Non VTG
QUARTERLY PAYMENT DATE
Chenavari Toro Income Fund Limited NPV, Unilever, Wheaton Precious Metals Corp.NPV (CDI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (GER) (07:00)
Consumer Credit (US) (20:00)
Gross Domestic Product (EU) (10:00)
Industrial Production (GER) (07:00)
Non-Farm Payrolls (US) (13:30)
Unemployment Rate (US) (13:30)
FINALS
Schroder European Real Estate Investment Trust
ANNUAL REPORT
Diploma
AGMS
Bluefield Solar Income Fund Limited, First Tin
FINAL DIVIDEND PAYMENT DATE
Ashmore Group, Fidelity Asian Values, Genus, NWF Group, Sylvania Platinum Ltd (DI)
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN