Having seen numerous fluctuations in the energy markets over the years, many analysts and policy makers have a natural tendency to “look through” the latest drop in oil prices—that is, to treat the impact as transient rather than as signaling long-term changes.
The dollar rose against most major peers as investors speculate whether the Federal Reserve is moving closer to raising interest rates with the U.S. economy strengthening while inflation persists below the central bank’s target.
Beijing is clearly getting nervous about the pace of growth in the world’s second-largest economy. This week the release of more important economic data will provide us with further insight into what is happening in the world’s second-largest economy.
Total nonfarm payroll employment increased by 321,000 in November, and the unemployment rate was unchanged at 5.8 percent, the U.S. Bureau of Labor Statistics reported today. Job gains were widespread, led by growth in professional and business services, retail trade, health care and manufacturing.