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The U.S. labor market is slowing

The U.S. labor market is slowing | 04 September 2023

04 September 2023, USD/JPY

The U.S. labor market is slowing

USDJPY trading plan:

U.S. job growth picked up in August, but the unemployment rate jumped to 3.8% and wage gains moderated, suggesting that labor market conditions were easing and cementing expectations that the Federal Reserve will not raise interest rates this month. The economy created 110,000 fewer jobs than previously reported in June and July, which some economists said suggested there had been business closures that were not previously captured. The report followed news this week that job openings dropped to the lowest level in nearly 2-1/2 years in July. The labor market is slowing in response to the U.S. central bank's hefty rate hikes to cool demand in the economy. This is probably the final nail in the coffin for the chances of another rate hike by the Fed in September.

Investment idea: range 145.40 -146.50.

David Johnson
Analyst of «FreshForex» company
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