Latest NFP (US Non-Farm Payroll) Data Prediction for the Month of December 2022
The bullish traction in precious metals & steady US Dollar Index had been witnessed in later part of the year 2022. Majorly, the U.S FOMC stance over smaller interest rate hikes same like previous hike of 50 bps led buying pressure in indices, currencies & commodities.
An improvement in controlling inflationary pressure & the status of employment sector will further contribute Fed’s monetary policy decision. On global front, the suspicious view of easing down of Covid-19 restrictions & lockdowns in China makes the market more vulnerable.
The market will be monitoring an outcome of U.S Non-farm payroll which to be issued on January 06, 7.00pm IST, Friday & will show a change in the number of employed people during the previous month, i.e. December, excluding the farming industry.
The report expects a mild drop-down in employment figure by 200K lower than previous reading of 263K while Unemployment Rate is expected to remain constant at 3.7%.
Above is the Graph showing the changes in Employment data since last three months.
Above graph shows mild progress in employment sector in last three months amid improving inflation concern & resumption of manufacturing & industrial activities in an economy.
On Thursday, the estimates of U.S ADP Employment Change showed a rise in number of employed people by 235K & the Unemployment Claims fell to 204K against respective previous reading of 182K & 223K.
If NFP data comes out to be stronger, then the possible effect can be – strong US Dollar Index, soft precious metals & stronger global indices. Other way round, if data shows downbeat results, then downside in indices & buying bias in Gold can be noticed.
Prepare yourself for NFP release on
January 06. 2023. at 8:30am New York time
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