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U.S. Jobs Data to be Released Tonight

U.S. Jobs Data to be Released Tonight
Jun 05, 2015 By Imran Valibhoy

The U.S. jobs data will be released on Friday night, US time. Employment figures have been cited as a key indictor of economic health in the country. Over the past several months, US unemployment has gradually yet consistently fallen, indicating the US has mostly recovered from the global financial crisis.

Economists are projecting that the US economy will have added 225,000 nonfarm jobs in May. The US economy added 223,000 jobs in April. Part of the speculation on the US labour market comes from the concern of a potential US interest rate hike. Speculation over the timing of an interest rate hike has caused uncertainty in global markets. The Federal Reserve had stated that the timing of an interest rate cut would depend significantly on the rate at which the labour market improves. Lower unemployment may speed up the timing of the interest rate hike.

Although the labour market is improving in the US, many economic metrics are still at subdued levels. The USD has surged in the past year, bringing concerns of a potential currency bubble. "There's no doubt that the US economy and the labour market is improving, but the dollar is also overbought, so even if it pushes higher on the back of a strong jobs number, it could be hit by profit-taking next week," said BK Asset Management analyst Kathy Lien. Over the past 24 hours the the Euro plummeted relative to the US dollar due to worries over Greece and the rise in the US dollar. However, currencies are relatively flat so far today.

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Imran Valibhoy Author: Imran Valibhoy Jun 05, 2015

Since Joining the firm in 2006, Imran has worked on a range of M&A and Capital Market transactions in the natural resources, mining as well as projects in the renewable energy sector. Prior to joining Wise-owl, Imran worked at Euroz Securities in Perth, aiding in the advisory and valuation of companies in the mining and industrial sectors in Australia. Imran has a Masters in Banking & Finance from City University's Class Business School in London and a Bacheloor degree in Commerce from UWA.

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