Summary of Important News for Friday, December 3, 2021
ZFX - here are the important market news for the day:
The US will announce the number of Non-Farm Employment Change numbers for November, which is expected to be 553,000 positions. Therefore, investors are advised to be cautious or avoid trading the USD pairs during this period as they may experience significant short-term price volatility.
Canada will announce the Employment Change numbers for the month of November which is expected to be 36,500 positions. Therefore, investors are
Japan Skyrockets in Service Sector Growth
ZFX - Japan's service sector activity grew at its fastest pace in more than two years in November as new business surged, signaling stronger consumer confidence as the coronavirus pandemic eases.
The world's third-largest economy has lagged behind other developed economies in recovery, as the pandemic hit with coronavirus-related activity restrictions for part of the year.
The au Jibun Bank Japan Services Purchasing Managers' Index (PMI) last rose to a seasonally-adjusted 53.0 from 50.7
Google Wants Workers to Continue WFH
ZFX - Google will not require its employees to return to the office on January 10 as expected, according to an email sent to employees Thursday and seen by CNBC.
The company's VP of Security, Chris Rackow, wrote in an email to full-time employees that they will wait until the new year to assess when the US office can safely return to a "stable, long-term work environment." Neither of the US locations will adopt a hybrid employment mandate on January 10 as planned, the email said.
New Omicron Variant to Affect Markets
Concerns about the impact of the Omicron variant of the coronavirus increased today after the first case was detected in the United States. The Bank of Japan is moving to warn the economy as many countries begin to respond with stricter containment measures.
The first known case in the United States was a fully vaccinated person in California who returned to the United States from South Africa on November 22 and tested positive seven days later.
President Joe Biden is working on the US
Jack Dorsey Changing Square to Block
ZFX - Square changed its name to Block as it's focusing on technologies like blockchain and expanding beyond its original credit-card-reader business.
Payment giant Jack Dorsey said in an announcement of the new name, effective Dec. 10, "recognizes the company's growth" and "creates room for further growth." Block will still trade under the SQ ticker on the New York Stock Exchange.
“We built the Square brand for our seller business, which is where it belongs,” Dorsey, co-founder and
Waiting for OPEC+ Supply Decision: Will Oil Rise?
ZFX - Oil prices rose on Thursday morning in Asia, reversing the previous day's losses. Due to the growing concerns rising from the COVID-19 Omicron variant, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) could halt supply additions.
Brent futures were up from 0.42% to $69.29 as of 9:44 am EDT and WTI futures were up from 0.75% to $66.06.
"Oil prices rose as some investors anticipated that OPEC+ would decide to maintain current supply levels in January to
Hawkish Powell Comments on Tapering Bringing Gold Down Again
ZFX - Gold plunged again after Federal Reserve Chairman Jerome Powell said officials should consider removing pandemic support, potentially paving the way for an earlier-than-expected rate hike.
Powell signaled Tuesday at the Senate Banking Committee that the issue could be discussed at the Fed's next meeting Dec. 14-15, where there will be more information about the novel coronavirus strain.
Powell also discontinued the word "temporarily" to describe very high inflation. The dollar pared
Powell: “Fed Discussing Buying Bonds”
ZFX - Federal Reserve Chair Jerome Powell indicated on Tuesday that the central bank could step up its efforts to boost the economy as it battles rising inflationary pressures.
In an appearance before a Senate committee, the Fed chief said he thought reducing the pace of monthly bond purchases could move faster than the $15 billion-a-month schedule announced earlier this month.
Powell said he expected the issue to be discussed at the December meeting.
“At this point, the economy is
Summary for Important News for Wednesday December 1, 2021
ZFX - Here are the top news for today:
The US will announce the ADP Non-Farm Employment Change numbers for the month of November. which is expected to 525,000 positions. Therefore, investors are advised to be cautious or avoid trading the USD pair during these periods as they may experience short-term price volatility.
Today is the second day Fed Chairman Jerome Powell will address and answer questions before the House Financial Services Committee. Therefore, investors are advised to be
Summary of Important News for Tuesday, November 30, 2021
ZFX - here's a quick lowdown on the market news today:
Later today at 8:30 p.m. Canada will announce the GDP figures for September. It is forecasted at 0.1%, so investors are advised to be cautious or avoid trading the CAD currency pairs during this period as it may cause short-term price volatility.
Later today at 10 p.m., Fed Chairman Jerome Powell will deliver a statement and answer questions before the Senate Banking Committee. Therefore, investors are advised to be cautious or