Nonfarm Payrolls Forecasted At 175K Increase

Tuesday, 5 Dec, 05:30

RBA Interest Rate Decision (Dec)

The Organisation for Economic Co-operation and Development (OECD) has predicted that rates in Australia have reached its peak, an outlook supported by the country’s Treasurer Jim Chalmers. The RBA rate is currently at a 12-year high of 4.35%, with just 2% of the market pricing in an upcoming hike.

Wednesday, 6 Dec, 17:30

RBA Interest Rate Decision (Dec)

Oil’s surge has reversed after OPEC+’s announced cuts fell short of market expectations. Last week’s crude inventories saw a build of 1.6m versus 900K expected; compounding on the fact that oil prices have been sliding for 6 weeks.

Friday, 8 Dec,15:30

US Nonfarm Payrolls (Nov)

Next week’s NFP has been forecasted at 175K, an increase from October’s 150K and an indication that we’ve got a while to go before we can expect any rate cuts. The Fed Fund rate is at a 2-decade high of 5.5%. Rate cuts, however, don’t seem to be on the horizon this year, although markets are looking at 5 cuts in 2024.