Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Trading news
Back
10 Mar 2023

US: Labor market remains incredibility tight – Wells Fargo

Data released on Friday showed the US economy added 311K new jobs in February, surpassing expectations. Analysts at Wells Fargo point out that while hiring remained on a roll, there were hints that strong job growth need not come at the expense of fanning inflation pressures. They see the Federal Reserve remaining in tightening mode.

Solid hiring continued in February, but slowdown in store

“But at 3.6% unemployment, the jobs market incredibly tight. We are therefore wary to extrapolate the degree of easing in earnings growth over the past year, which was likely helped along by the restaffing and job-switching frenzy after the initial phase of COVID dying down. With labor still in fairly short supply, wage pressures are likely to remain elevated in the near term.”

“Even with February's increase in the unemployment rate, the labor market remains incredibility tight. While we expect hiring to slow more markedly from here, there remains plenty of scope for the jobs market to weaken before concerning the Fed.”

“We expect the FOMC to remain in tightening mode awhile yet, with the bar for a 50 bps hike at the upcoming March meeting looking somewhat higher after today's report showing some easing of inflation pressures coming from the jobs market.”

Mar 10, 2023

Forex Today: DXY ends week flat after Powell and NFP, ahead of US CPI; Wall Street plunges

What you need to take care next week: The US Dollar dropped sharply on Friday after the US employment report. The DXY erased all the gains that follow
Read more Previous
Mar 10, 2023

Canada: Job numbers offer plenty of reason for the BoC to leave the door open to future rate hikes – CIBC

Analysts at CIBC point out that the February Canadian employment report wasn't as dramatic as January’s surge, but a slightly above consensus employme
Read more Next