|Bid||23.59 x 27900|
|Ask||23.60 x 124600|
|Day's Range||23.55 - 23.61|
|52 Week Range||23.09 - 26.16|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.76%|
The Bureau of Labor Statistics released its JOLTS (Job Openings and Labor Turnover Survey) data for January on March 16. According to the report, the total number of job openings on the last day of January was 6.3 million, an impressive increase from the 5.6 million job openings seen in December, and the highest reading since the beginning of the survey in 2000. JOLTS data is collected through a monthly survey of job openings, number of new employees hired, number of employees who have quit or have been asked to leave, and other job separations.
Could Interest Rates Pull Precious Metals Lower? The fall of equities across the globe could have also boosted precious metals. The unrest in the markets (VIXY) could provide a push for gold prices, as gold and silver are famously known as havens that rise during uncertainty.
The Japanese yen (JYN) managed to claw back its losses after the scare about a second round of tariffs hit the global financial markets last week. Japan’s February exports, March manufacturing, and inflation reports are expected this week.
Is a Perfect Storm Brewing for the Week Ahead? The British pound (FXB) appreciated 0.66% against the US dollar (UUP) for the week ending March 16. British equity markets (BWX) were impacted by increased concerns about global trade wars and closed lower last week.
The US Bureau of Labor Statistics reported on Tuesday that consumer prices in the US grew by 0.2% in February after a stellar increase of 0.5% in January. The US dollar (UUP) declined after this report, as a lower rate of inflation could limit the pace of rate hikes from the US Fed. For developed economies, higher interest rates could lead to a higher valued currency. The US dollar (UDN) managed a minor recovery after the initial slump after the inflation (VTIP) report, but the recovery was short-lived as news about President Trump firing the US Secretary of State, Rex Tillerson, hit the wires.
The US Bureau of Labor Statistics reported that US consumer prices increased marginally in February. The year-over-year increase in core inflation (TIP) was reported at 1.8%, unchanged from the January reading. The inflation (VTIP) reading for February was largely in line with expectations, which is easing investor fears about interest rates rising too quickly and impacting the growth rate of equity investments and depressing the value of bonds (BND).
The Japanese yen (JYN) lost out to increased risk appetite thanks to softer-than-expected tariffs and the positive geopolitical development involving US President Donald Trump and North Korea’s Kim Jong Un. Also driving the yen higher were the comments from the Bank of Japan’s governor, Haruhiko Kuroda, who tried to take back his comments about the policy shift toward tightening. For the week ended March 9, the yen (FXY) closed at 106.80 compared to the US dollar (UUP), an appreciation of 0.99%.
The British pound (FXB) appreciated 0.32% against the US dollar (UUP) in the week ended March 9, 2018. The economic data released from the United Kingdom in the week indicated that the UK economy has been accelerating. Uncertainty surrounding Brexit negotiations has dampened the demand for the British pound, especially as we approach the next key Brexit date of March 22, 2018, when the spotlight will move to Brussels, where EU (European Union) leaders will meet to sign a transition Brexit deal.
The ADP February jobs report was published on March 7, 2018. It offered a deeper insight into the employment trends across different sectors in the US employment market. This report is prepared by ADP, a human resource management solutions provider, in collaboration with Moody’s Analytics.
The Japanese yen (JYN) regained its strength against the US dollar. The other factor that contributed to the yen’s appreciation was the comment from Bank of Japan Governor Haruhiko Kuroda. Kuroda used the word “exit” when referring to the central bank’s accommodative monetary policy program.
The euro-dollar (FXE) exchange rate closed the week ending March 2, 2018, at 1.23. The major factors that drove the euro in the previous week were the election and political uncertainty in Italy and Germany. Over the weekend, Italy had a hung parliament verdict.
The US Dollar Index closed the previous week with minor gains, but the index suffered after the announcement about tariffs last week. Historically, US tariffs on imports have been negative for the US dollar. If the current proposal becomes a law, the US dollar could have a similar fate.