The report covering the changes in employment for the month of August is set to be released on Friday 6 September 2013. At the same time, the report dealing with the more stable Non-Farm Payrolls will also be issued, helping to give economists and policy makers a clearer picture of the state of the US jobs market and the overall state of the economy.
At this time, many experts believe that there will be an increase in the net number of jobs added during the month of August as compared with July. That said, it is unlikely that the addition of those jobs will have any significant influence on the unemployment number.
Analysts believe that the US is experiencing a steady growth that may enjoy a sudden boost in the near future as many investors return to the dollar as a haven asset. As such, American employers may be able to begin an expansion of their hiring as revenues increase.
Traders are advised to proceed with caution in trading the USD in its currency pairs over the coming days as there may be volatility in the market following the issue of the report.
Canadian Unemployment Report to Come Out on Friday
Following the American employment report that is set to be issued on 6 September 2013, the Canadians are prepared to release their own numbers on the changes in their employment situation.
At this time, many analysts believe that there will likely be no change in the current level of unemployment. Readers are reminded that the Canadian economy has experienced a significant series of hills and valleys over the past month as their currency was tossed around in the tumultuous volatility of the market.
Additionally, the oil heavy Canadian economy has been destabilized by the fluctuations in the market, with the price of crude bouncing around consitantly throughout the month. Moreover, the concerns over supplies of crude emanating from the Middle East further served to cause confusion over the position of Canadian crude in the highly valued US energy market.
Analysts believe that the loonie may experience continued volatility following the issuance of the jobs numbers report. As such, investors are advised to proceed with caution on the CAD, especially in its pairings against the USD.
WTI Experiences Increased Volatility Over Middle Eastern Instability
The West Texas Intermediate energy market was reported on 4 September 2013 to have undergone a number of near violent swings over the course of the past week as tensions in the Middle East have served to further fluctuate the price of crude.
Analysts point first to the growing tensions over the conflict in Syria as playing an instrumental role in driving prices up. The joint American-Israeli missile test yesterday that was originally detected by the Russian radar stations in the Black Sea succeeded rocking the market, if only temporarily. The fact that US President Barack Obama has likely gained the permission from Congress to move forward with military action against the forces of Syrian President Bashar al-Assad may drive prices up even more in the days to come.
Furthermore, there is added speculation that prices may jump as stockpiles in the US are believed to have shrunk significantly, lowering supply. The fact that the Libyans are still producing crude at below efficiency levels due to security concerns and strikes at their facilities is only helping to depress the reserves.
Analysts believe that the price of crude will likely go up in the volatile market at this time. That said, fluctuations should be expected to continue and as such, traders are advised extreme caution in trading in oil over the coming weeks.