USD up ahead of a big week for US jobs data
The data starts on Wednesday with JOLTs job openings.
Job openings expected to marginally increase
The number of job openings is forecast to increase marginally, from October, by around 120,000 to 8.85 million. October was the lowest level since March 2021. Then the ADP survey, usually on a Wednesday, will be released on Thursday because of the extended weekend. US private businesses are expected to have hired 113,000 workers in December, after 103,000 job creations the previous month. That was a relatively weak figure considering it took into account the return of about 30,000 workers in the automotive sector after the end of the UAW strikes.
Initial jobless claims, job creations and average hourly earnings
Also on Thursday, initial jobless claims. The number of Americans filing for new unemployment benefits is forecast at 215,000. But the real indicator the Fed members are waiting for will be Friday's non-farm payrolls. 163,000 job creations expected in December with the unemployment rate expected to climb from 3.7 to 3.8% in November. As for average hourly earnings, they should rise by 0.3% MoM and 3.9% YoY. That last figure would be at its lowest since mid-2021.
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