U.S. Treasury yields were little changed on Tuesday as investors awaited the latest key data that will provide fresh insights into the state of the economy and the labor market.A series of key economic data points are slated for publication this week, with the state of the labor market coming into focus.Tuesday will see the release of ISM's latest PMI report for the services sector as well as the Job Openings and Labor Turnover Survey (JOLTs).
Economists surveyed by Dow Jones are expecting it to reflect 7.7 million job openings. ADP's private payrolls report will then follow Wednesday and is forecast to show that 130,000 jobs were added in December, before the December jobs report from the Bureau of Labor Statistics is expected Friday. That will include nonfarm payrolls data as well as the unemployment rate in the U.S. Investors will be paying close attention to the data as it could influence their view on the potential outlook for monetary policy, specifically interest rates. It comes after the central bank in December suggested less interest rate cuts were on the horizon ahead of its next meeting on Jan. 28-29.The Fed is widely expected to leave rates unchanged then, with traders last pricing in an around 93% chance of interest rates being kept steady according to Minutes from the Fed's December meeting are set to be released Wednesday and investors will be scanning for those for additional insight into policymakers' thinking and their expectations for the economy
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