Global markets were higher on Friday in the wake of the latest upbeat US jobs report.
Payrolls data on Friday bolstered optimism about the US economic outlook as its showed a 228,000 hiring spree last month, cementing the likelihood of an interest rate hike this week. However, in the November US jobs report, wages once again remain low and despite an extended hiring boom in the US, the pressure on employers to pay their workers more has failed to materialise.
For the week ahead, all eyes will be on the US Federal Reserve meeting later this week. As we touched on last week, assuming a hike the Fed rate will now be at the same level as the RBA cash rate, the first time this has happened in 17 years. Outlook comments for 2018 will be watched closely, particularly around continued low inflation and the potential impact of stimulus from...
Stock Markets, Simplified.