Latest news with #NFP
Bloomberg
6 hours ago
- Business
- Bloomberg
Bloomberg Surveillance: Looking Ahead to Jobs
Watch Tom and Paul LIVE every day on YouTube: Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney July 29th, 2025 Featuring: 1) Nisha Patel, Portfolio Manager at Parametric on the big week with the Fed, earnings, and economic data. No one expects the Fed to cut rates, but any shift in guidance or comments from Powell will be key takeaways. 2) Neil Dutta, Head of Economics Renaissance Macro Research, on how Trump won on his terms and the Europeans lost on theirs. Perhaps now that this deal is done (Europe has a slightly higher tariff rate than the UK but same as Japan) they can all pivot to China as a group. China is the surplus country that needs to rebalance. As an aside, the Europeans totally did the Canadians dirty. So much for them getting closer together. No upside for the Canadians to go that route anymore. 3) Peter Tchir, Head: Macro Strategy at Academy Securities, on a fresh look at the jobs JOLTS (I focus the QUIT rate as it is almost a 'crowd sourced' measure of sentiment in the labor force. We get ADP, which has been weak, but the market has chosen to ignore. Finally we get the NFP data, where the headline has surpassed expectations the past 3 months, while the underlying details haven't fully supported that. 4) Kristy Akullian, Head of iShares Investment Strategy, Americas at BlackRock looks to payrolls on Friday as a key indicator of economic health. Consensus surveys point to +109k jobs added in July vs +147k in June. Labor market data has largely surprised to the upside this summer, with the strong beat in June, and now 6 straight weekly drops in initial claims.
New Straits Times
19 hours ago
- Business
- New Straits Times
Ringgit opens higher on easing trade tensions
KUALA LUMPUR: The ringgit opened higher on Tuesday against the US dollar and other major and regional currencies, supported by easing global trade tensions that lifted investor sentiment, an analyst said. At 8.01 am, the local note rose to 4.2140/2460 against the greenback from Monday's close of 4.2275/2345. However, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) had strengthened, buoyed by optimism ahead of upcoming US-China trade talks. The DXY gained 1.03 per cent to 98.653 points, as officials from both countries were in discussions in Sweden on a possible trade truce, he told Bernama. "At the same time, the two-day Federal Open Market Committee (FOMC) meeting, which begins today, will be in the spotlight, with consensus expecting no change to the Fed Funds Rate. "In addition, the US labour market will be closely watched, with July's Nonfarm Payrolls (NFP) report due on Friday. The market expects a softer print of 108,000, down from 147,000 in June," he said. Mohd Afzanizam noted that the ringgit had weakened 0.21 per cent against the US dollar to RM4.2310 on Monday, amid ongoing trade negotiations between Malaysia and the United States. Malaysia is actively engaging the US to avert the impending 25 per cent tariffs set to take effect on Aug 1, seeking a rate below 20 per cent. Meanwhile, the extended US-China negotiations could signal a prolonged truce, suggesting the administration of US President Donald Trump remains sensitive to the tariffs' potential impact on the domestic economy. "However, tariff shocks are likely to increase downside risks to global growth in the second half of 2025 and beyond, as higher costs of doing business in the US could dampen aggregate demand. "The current term of the Fed chair ends in May next year, and it appears likely that Jerome Powell's successor will be more aligned with the US President's preference for lower interest rates as a policy stance," he added. Mohd Afzanizam expects the ringgit to trade in a narrow range, likely between RM4.23 and RM4.24 today. At the opening, the ringgit traded higher against most major currencies. It rose against the Japanese yen to 2.8383/8600 from 2.8497/8546 at Monday's close, appreciated versus the British pound to 5.6286/6714 from 5.6720/6814, and strengthened against the euro to 4.8861/9232 from 4.9331/9412 previously. The local note was also firmer against regional peers. It improved against the Indonesian rupiah to 257.4/259.6 from 258.3/258.9, gained versus the Singapore dollar to 3.2750/3004 from 3.2917/2974, strengthened against the Thai baht to 12.9626/13.0702 from 13.0511/0787, and inched up against the Philippine peso to 7.37/7.43 from 7.39/7.41 previously.
The Star
20 hours ago
- Business
- The Star
Ringgit opens higher on easing trade tensions
KUALA LUMPUR: The ringgit opened higher on Tuesday against the US dollar and other major and regional currencies, supported by easing global trade tensions that lifted investor sentiment, an analyst said. At 8.01 am, the local note rose to 4.2140/2460 against the greenback from Monday's close of 4.2275/2345. However, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) had strengthened, buoyed by optimism ahead of upcoming US-China trade talks. The DXY gained 1.03 per cent to 98.653 points, as officials from both countries were in discussions in Sweden on a possible trade truce, he told Bernama. "At the same time, the two-day Federal Open Market Committee (FOMC) meeting, which begins today, will be in the spotlight, with consensus expecting no change to the Fed Funds Rate. "In addition, the US labour market will be closely watched, with July's Nonfarm Payrolls (NFP) report due on Friday. The market expects a softer print of 108,000, down from 147,000 in June,' he said. Mohd Afzanizam noted that the ringgit had weakened 0.21 per cent against the US dollar to RM4.2310 on Monday, amid ongoing trade negotiations between Malaysia and the United States. Malaysia is actively engaging the US to avert the impending 25 per cent tariffs set to take effect on Aug 1, seeking a rate below 20 per cent. Meanwhile, the extended US-China negotiations could signal a prolonged truce, suggesting the administration of US President Donald Trump remains sensitive to the tariffs' potential impact on the domestic economy. "However, tariff shocks are likely to increase downside risks to global growth in the second half of 2025 and beyond, as higher costs of doing business in the US could dampen aggregate demand. "The current term of the Fed chair ends in May next year, and it appears likely that Jerome Powell's successor will be more aligned with the US President's preference for lower interest rates as a policy stance,' he added. Mohd Afzanizam expects the ringgit to trade in a narrow range, likely between RM4.23 and RM4.24 today. At the opening, the ringgit traded higher against most major currencies. It rose against the Japanese yen to 2.8383/8600 from 2.8497/8546 at Monday's close, appreciated versus the British pound to 5.6286/6714 from 5.6720/6814, and strengthened against the euro to 4.8861/9232 from 4.9331/9412 previously. The local note was also firmer against regional peers. It improved against the Indonesian rupiah to 257.4/259.6 from 258.3/258.9, gained versus the Singapore dollar to 3.2750/3004 from 3.2917/2974, strengthened against the Thai baht to 12.9626/13.0702 from 13.0511/0787, and inched up against the Philippine peso to 7.37/7.43 from 7.39/7.41 previously. - Bernama
The Sun
21 hours ago
- Business
- The Sun
Ringgit gains as trade tensions ease, US-China talks in focus
KUALA LUMPUR: The ringgit opened higher on Tuesday against the US dollar and other major and regional currencies, supported by easing global trade tensions that lifted investor sentiment, an analyst said. At 8.01 am, the local note rose to 4.2140/2460 against the greenback from Monday's close of 4.2275/2345. However, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) had strengthened, buoyed by optimism ahead of upcoming US-China trade talks. The DXY gained 1.03 per cent to 98.653 points, as officials from both countries were in discussions in Sweden on a possible trade truce, he told Bernama. 'At the same time, the two-day Federal Open Market Committee (FOMC) meeting, which begins today, will be in the spotlight, with consensus expecting no change to the Fed Funds Rate. 'In addition, the US labour market will be closely watched, with July's Nonfarm Payrolls (NFP) report due on Friday. The market expects a softer print of 108,000, down from 147,000 in June,' he said. Mohd Afzanizam noted that the ringgit had weakened 0.21 per cent against the US dollar to RM4.2310 on Monday, amid ongoing trade negotiations between Malaysia and the United States. Malaysia is actively engaging the US to avert the impending 25 per cent tariffs set to take effect on Aug 1, seeking a rate below 20 per cent. Meanwhile, the extended US-China negotiations could signal a prolonged truce, suggesting the administration of US President Donald Trump remains sensitive to the tariffs' potential impact on the domestic economy. 'However, tariff shocks are likely to increase downside risks to global growth in the second half of 2025 and beyond, as higher costs of doing business in the US could dampen aggregate demand. 'The current term of the Fed chair ends in May next year, and it appears likely that Jerome Powell's successor will be more aligned with the US President's preference for lower interest rates as a policy stance,' he added. Mohd Afzanizam expects the ringgit to trade in a narrow range, likely between RM4.23 and RM4.24 today. At the opening, the ringgit traded higher against most major currencies. It rose against the Japanese yen to 2.8383/8600 from 2.8497/8546 at Monday's close, appreciated versus the British pound to 5.6286/6714 from 5.6720/6814, and strengthened against the euro to 4.8861/9232 from 4.9331/9412 previously. The local note was also firmer against regional peers. It improved against the Indonesian rupiah to 257.4/259.6 from 258.3/258.9, gained versus the Singapore dollar to 3.2750/3004 from 3.2917/2974, strengthened against the Thai baht to 12.9626/13.0702 from 13.0511/0787, and inched up against the Philippine peso to 7.37/7.43 from 7.39/7.41 previously. - Bernama
Barnama
21 hours ago
- Business
- Barnama
Ringgit Opens Higher On Easing Trade Tensions
WORLD By Karina Imran KUALA LUMPUR, July 29 (Bernama) -- The ringgit opened higher on Tuesday against the US dollar and other major and regional currencies, supported by easing global trade tensions that lifted investor sentiment, an analyst said. At 8.01 am, the local note rose to 4.2140/2460 against the greenback from Monday's close of 4.2275/2345. However, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) had strengthened, buoyed by optimism ahead of upcoming US-China trade talks. The DXY gained 1.03 per cent to 98.653 points, as officials from both countries were in discussions in Sweden on a possible trade truce, he told Bernama. 'At the same time, the two-day Federal Open Market Committee (FOMC) meeting, which begins today, will be in the spotlight, with consensus expecting no change to the Fed Funds Rate. 'In addition, the US labour market will be closely watched, with July's Nonfarm Payrolls (NFP) report due on Friday. The market expects a softer print of 108,000, down from 147,000 in June,' he said. Mohd Afzanizam noted that the ringgit had weakened 0.21 per cent against the US dollar to RM4.2310 on Monday, amid ongoing trade negotiations between Malaysia and the United States. Malaysia is actively engaging the US to avert the impending 25 per cent tariffs set to take effect on Aug 1, seeking a rate below 20 per cent.
