🇺🇸🔺Labor Market Gap Points to Higher Jobless Rate: Cable FX Macro
- Rosbel Durán
- Sep 24, 2024
- 1 min read
The U.S. Conference Board consumer confidence data dipped below market estimates, this morning's data showed the Fed's September move may have been in the right direction
Looking further in the data, the differential between jobs plentiful and hard to get, also known as the labor market gap, is deteriorating. The differential now pointing to higher U.S. unemployment rate in the months ahead
From the last Fed's meeting, we know these type of details are key, given that the FOMC has now shifted its focus to the labor market side of their monetary policy setting equation. Inflation is running close to target and labor market weakness data will set the tone for pricing ahead
After the data was release, traders lifted odds of a November 50bps rate cut
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