Where are the wage hikes? – MM #151

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The latest US jobs report is out and the picture is becoming clearer: more job gains, no pay rise. We tackle all the aspects of the labour market, looking for the elusive inflation, the Fed reaction and what’s next for the dollar.

Originally published here

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  1. Wages are really stuck: We explain how wages are not moving at all, and for those that use the classic Phillips curve, the models need to be brushed off.
  2. Looking for other figures: If the unemployment rate isn’t relevant, what numbers should we be looking at?
  3. What does the NFP mean for the FED?: Is this enough for the Fed to raise rates? The hawks are now in control but will the closeted doves come out?
  4. The US dollar: The greenback, like the Fed, is data dependent. They have a lot of time to tell us what they want to do, if they know what they want to do.
  5. A hot summer ahead: Will the Fed provide a hint during the summer? And who will actually run the Fed next year? A lot of uncertainty could turn into volatility.
  6. Preview: The big events of the week continue where the previous week left us off. We will hear from the Fed Chair in two days of testimony and we will get an updated inflation number.

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About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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