{"id":56760,"date":"2023-02-06T20:45:25","date_gmt":"2023-02-06T09:45:25","guid":{"rendered":"https:\/\/icmarkets.eu\/blog\/?p=56760"},"modified":"2025-11-11T19:28:39","modified_gmt":"2025-11-11T08:28:39","slug":"monday-6th-february-2023-markets-somber-on-upbeat-jobs-data","status":"publish","type":"post","link":"https:\/\/icmarkets.eu\/blog\/fundamental-analysis\/monday-6th-february-2023-markets-somber-on-upbeat-jobs-data\/","title":{"rendered":"Monday 6th February 2023 :Markets somber on upbeat jobs data"},"content":{"rendered":"<h3><span style=\"font-weight: 400;\">Global Markets:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Asian Stock Markets : Nikkei up 0.67%, Shanghai Composite down 0.76%, Hang Seng down 2.02%, ASX down 0.25%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commodities : Gold at $1886.70 (+0.54%), Silver at $22.47 (+0.29%), Brent Oil at $79.99 (+0.06%), WTI Oil at $73.28 (-0.15%)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rates : US 10-year yield at 3.573, UK 10-year yield at 3.176, Germany 10-year yield at 2.245<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">News &amp; Data:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) ISM Services PMI 55.2 vs 50.5 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Unemployment Rate 3.40% vs 3.60% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Non-Farm Employment Change 517K vs 193K expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Average Hourly Earnings m\/m 0.30% vs 0.30% expected<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Markets Update:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Asian stocks fell broadly on Monday as robust U.S. jobs data released on Friday fanned fears of more interest rate hikes to slow economic activity and cool inflation. According to the Federal Reserve, a strong labor market would lead to excessive wage growth which, in turn, would lead to inflation pressures.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Chinese and Hong Kong stocks slipped into the red after the Biden administration decided to postpone Secretary of State Antony Blinken&#8217;s upcoming trip to China in response to the Pentagon&#8217;s discovery of an alleged Chinese spy balloon, that was later shot down. Japanese stocks were the sole outliers for the day, with the Nikkei 225 index rising 0.7% after a report pegged Bank of Japan Deputy Governor Masayoshi Amamiya as next in line to lead the central bank. Australian markets fell modestly as investors awaited the RBA&#8217;s policy meeting on Tuesday for direction. New Zealand markets were closed for Waitangi Day holiday.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The dollar rose to a near one-month high against a basket of currencies, with the dollar index and dollar index futures up 0.1% each. Data on Friday showed that U.S. nonfarm payrolls unexpectedly surged in January, pointing to a strong labor market despite increased economic headwinds.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Upcoming Events:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Monday, February 06, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:00 PM GMT &#8211; (CAD) Ivey PMI<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Tuesday, February 07, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:30 AM GMT &#8211; (AUD) Cash Rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:30 AM GMT &#8211; (AUD) RBA Rate Statement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">05:00 PM GMT &#8211; (USD) Fed Chair Powell Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">05:30 PM GMT &#8211; (CAD) BOC Gov Macklem Speaks<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Wednesday, February 08, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">02:15 PM GMT &#8211; (USD) FOMC Member Williams Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">06:01 PM GMT &#8211; (USD) 10-y Bond Auction<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">06:45 PM GMT &#8211; (USD) FOMC Member Waller Speaks<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Thursday, February 09, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">09:45 AM GMT &#8211; (GBP) Monetary Policy Report Hearings<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">10:00 AM GMT &#8211; (EUR) EU Economic Forecasts<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (USD) Unemployment Claims<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Friday, February 10, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 AM GMT &#8211; (AUD) RBA Monetary Policy Statement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:00 AM GMT &#8211; (GBP) GDP m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:00 AM GMT &#8211; (GBP) Prelim GDP q\/q<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (CAD) Employment Change<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (CAD) Unemployment Rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:00 PM GMT &#8211; (USD) Prelim UoM Consumer Sentiment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:00 PM GMT &#8211; (USD) Prelim UoM Inflation Expectations<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">05:30 PM GMT &#8211; (USD) FOMC Member Waller Speaks<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.67%, Shanghai Composite [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":62731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[196,215,339],"tags":[],"class_list":["post-56760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/56760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/comments?post=56760"}],"version-history":[{"count":3,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/56760\/revisions"}],"predecessor-version":[{"id":62763,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/56760\/revisions\/62763"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media\/62731"}],"wp:attachment":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media?parent=56760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=56760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=56760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}