Greenback Waiting For NFP
At the beginning of 2018, stocks looks more than firm, having reached maximums this week. This shrugs off all the speculations that equities will drop as a reaction to tax reform. More so, economists assume that the reform will improve consumer spending and economic growth. Nonetheless, greenback is still soft. The currency is waiting non-farm payroll data, which might give it an additional boost. NFP is expected to rise 190,000. Unemployment, though, is projected to stay at 4.1%
Rate hikes this year remain a very hot topic among investors. Fed is expected to raise rates 3 or 4 times. Today’s Average Hourly Earnings report might provide some hints concerning this issue.