Market Overview
This week has been interrupted by the US Independence Day, effective four day, long-weekend. All eyes were on the US labour markets, as the Federal Reserve is looking for this to slacken considerably, (under their tight monetary policy), to effectively contain inflation. The ADP Jobs Report was a shock number, blowing away expectations, by almost double. This was followed by a Challenger report that advised job cuts halved and a Jolts Job Report, that showed a slowing in job openings. These are not what the Fed is looking for and will probably force further rate rises, as indicated by the Fed. All eyes now focus on the Non-Farm Payroll number, to be released tonight.
Major Announcements last week:
.-Fed Minutes Release
-US Labour Market Reports
-RBA Rate Decision
-Non-Farm Payrolls