Today the markets expect multiple reports on the job market in the United States. First of all, there will be a publication of the number of new jobs created in August, which is expected to be lower than the same report for July (160,000 against 164,000, respectively).
Furthermore, there will also be a report on the current unemployment rate in the US. The forecast is 3.7%, which is unchanged from the previous reading. There will also be a publication of wage growth, which is forecasted at 0.3% for August and 3.1% for the annualized rate, which is a bit weaker than before.
Moreover, today we would also receive a new report on the oil rig count in the United States. Last week there was a slight decrease in that statistic. If there is another decrease this week, expect to see growth in oil prices. Crude oil in general has stabilized somewhat because of last week’s lower reading and the recent optimism about the US and China renewing their trade negotiations.
Lastly, today we would also hear from Jerome Powell and other important Federal Reserve executives who will speak about monetary policy in Switzerland. This talk will likely tell investors whether they can hope of an interest rate decrease at the next Fed meeting in the middle of September.
