In December 2024, U.S. private businesses added 122,000 jobs, marking the smallest gain in four months and falling short of analysts' expectations of 140,000.
Healthcare continued to drive employment growth, maintaining its leadership in job additions. Leisure and hospitality added 22,000 jobs, reflecting a steady recovery in consumer-facing industries. In contrast, manufacturing faced challenges, losing 11,000 jobs for the third month, signaling ongoing difficulties in the sector.
Table 1: Monthly Jobs Data Comparison (2024), Reuters
Key economic indicators to monitor include Federal Reserve policy, with upcoming meetings and statements offering insights into monetary direction and its impact on market liquidity and interest rates. Inflation data remains critical, influencing purchasing power, corporate profit margins, stock valuations, and bond yields. Additionally, shifts in consumer spending, a key driver of economic growth, could indicate changes in economic momentum and impact various market sectors.
Source: ADP
Risk sentiment shifted this week as Moody’s downgraded the US credit rating, weakening the dollar and supporting major currencies and commodities.
Detail Dollar Strengthens on Trade Deal Pause (05.19.2025)The U.S. dollar gained traction Monday after the U.S. and China agreed to pause retaliatory tariffs for 90 days, prompting a gap lower in EUR/USD to 1.1064. Meanwhile, Moody’s downgraded the U.S. credit rating, citing fiscal concerns, sparking risk aversion and supporting safe-haven assets like gold and the yen.
DetailThe U.S. dollar held near 100.8, heading for a 0.6% weekly gain as weak data increased Fed cut bets. The euro rebounded to $1.12 on firm inflation and ECB cut hopes. The pound hovered near $1.32 as UK jobs data raised BoE cut odds. The yen rose toward 145 despite Japan’s 0.2% GDP drop, with the BoJ staying cautious.
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