United States Nonfarm Payrolls to be released today - 6.1.2023

On Thursday, the US dollar index rose. This morning the advance continued and it hit a 4-week high. The report on the labor market United States ADP Nonfarm Employment Change turned out to be good. The number of jobs in December 2022 increased to 235 thousand. This exceeds both the forecast of 135 thousand, and the November figure of 127 thousand. Note that yesterday, US foreign trade data for November and unemployment for the week (Initial Jobless Claims) also turned out to be better than expected. Today, even more important indicators of the official survey on the labor market United States Nonfarm Payrolls will be released. In addition, the United States ISM Non-Manufacturing PMI and Factory Orders business activity indicator will be released. In the Eurozone today will be published important data on inflation and in Canada - a review of the labor market.

Bitcoin quotes continue to hang around $16,700. The head of the French Central Bank, Francois Villeroy de Galhau, announced the need for stricter licensing requirements for crypto companies in France. He noted that one should not wait for the approval of the relevant legislation throughout the European Union.

Yesterday the quotes of American stocks went down. A good situation on the labor market may allow the Fed to increase rates more actively (tighten monetary policy) in order to fight inflation. The fall leader was the S&P 500 Real Estate sectoral index, as high rates usually hinder the development of the real estate market. In addition, corporate news had a negative impact on Thursday. Tesla (-2.9%) reported a decrease in sales of electric vehicles. Amazon (-2.4%) and Salesforce (-2.3%) are cutting some of their staff. Walgreens Boots Alliance (-6.1%) posted a relatively weak full-year outlook. The S&P 500 Energy (+2%) was the leader of growth yesterday due to the rise in oil prices.

On Thursday, oil quotes rose slightly. Market participants are hoping for an increase in demand for transport fuel in Southeast Asia during the Lunar New Year celebrations. This was facilitated by the increase in the Chinese economic indicator of business activity in the services sector Caixin Services PMI and the Japanese - Jibun Bank Services PMI. China is also set to lift anti-coronavirus restrictions on its border with Hong Kong on January 8.

Natural gas prices in Europe rose to $750 per 1000 cubic meters on ICE Dutch TTF. US gas on Henry Hub continued to fall to $3.5 mmBtu.