What do the US unemployment numbers really mean?
This week there will be numerous earnings reports from 874 companies, with some major names including Oracle, Ulta Beauty, DocuSign and JD.com reporting on Thursday.
Additionally, there are three central banks reporting: the Reserve Bank of Australia is expected to raise 25 basis points, the Bank of Canada is anticipated to keep its rate unchanged, and the Bank of Japan is expected to maintain its negative 0.1 interest rate.
On Friday at 8:30am EST, the US will release its unemployment numbers, which have been steadily declining after the pandemic spike, with historic lows of 3.4%.
Jerome Powell, the Federal Reserve Chair, will be speaking twice this week, but there are no announcements expected from the bank itself. If unemployment continues to decline, it could allow the Fed to be more aggressive in raising rates.
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