“The weakness of the dollar increases distrust in the US economy: it is a bleeding.” Pinto
“The weakness of the dollar increases distrust in the US economy: it is a bleeding.” Pinto
Manuel Pinto, Market Analyst, offers a detailed vision of the current economic situation of the United States, focusing its analysis on the evolution of the labor market and the possible implications for the monetary policy of the Federal Reserve. Pinto comments on the latest data from the ADP survey, which reflects the elimination of 33,000 jobs in the private sector, the first decrease since March 2023 and the worst work data since February of that same year. Despite the seriousness of the figure, remember that in similar situations, as in 2023, the market manages to close with strong increases, which suggests that there is still margin for optimism if you trust the response of the Fed.
The analyst warns about the possibility that soft data – like surveys – begin to transform into hard economic data, with real implications on growth. As an example, he cites non -agricultural payroll, whose creation could be reduced to 110,000 jobs in the next publication and fall to 80,000 in September. In addition, he points out that the unemployment rate could rise to 4.3% and that wages per hour show stagnation symptoms.
