US Market Update: S&P 500 continues to decline, focus on employment statistics - USD/JPY at 143 yen level.
September 6, 2024 5:35 JST (excerpt)
ADP employment figures fall below expectations - the yen briefly rose to 142.85 yen per dollar.
Market reaction to employment statistics - 44% of investors expect a 'risk-on' sentiment. The S&P 500 index continued to decline in the US stock market on the 5th. Investor focus is on the August employment statistics to be released on the 6th. The strength or weakness of the employment statistics is expected to influence the magnitude of interest rate cuts at the Federal Open Market Committee (FOMC) meeting to be held on the 17th-18th.
ADP employment figures fall below expectations - the yen briefly rose to 142.85 yen per dollar.
Market reaction to employment statistics - 44% of investors expect a 'risk-on' sentiment. The S&P 500 index continued to decline in the US stock market on the 5th. Investor focus is on the August employment statistics to be released on the 6th. The strength or weakness of the employment statistics is expected to influence the magnitude of interest rate cuts at the Federal Open Market Committee (FOMC) meeting to be held on the 17th-18th.
According to the economic indicators announced on this day, the August ISM Non-Manufacturing Purchasing Managers' Index exceeded expectations, indicating expansion for the second consecutive month. The ADP private employment figures for the same month remained at a low growth rate since January 2021. The number of new weekly jobless insurance claims decreased and was lower than market expectations.
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