Fed’s Waller: Will closely watch jobs data for growing signs of stress

Agustin Wazne FXStreet

Christopher Waller, a member of the Federal Reserve (Fed), speaks about the economic outlook and monetary policy at Auburn University in Alabama on Friday. He stated that the break-even rate for the job market is currently likely around zero.

Key quotes:

As the longer Middle East war remains unresolved, inflation and job risks increase.

Job market break even rate now probably around zero.

Will closely watch jobs data for growing signs of stress.

Changes to job market make it challenging to analyze at present.

Periods of negative job growth might not indicate recession.

After a series of shocks, it becomes harder to look through inflation jump.

If quick resolution to war, can look through energy price shock.

Will be closely observing how inflation expectations respond to conflict.

Markets seemed to have undervalued risk of prolonged conflict.

Potential energy price surge could have lasting inflation impact.

March headline PCE inflation likely to hit 3.5% YoY.”

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Euro.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.09%	-0.16%	-0.59%	-0.21%	-0.26%	-0.14%	-0.48%
EUR	0.09%		-0.07%	-0.50%	-0.12%	-0.17%	-0.05%	-0.41%
GBP	0.16%	0.07%		-0.45%	-0.05%	-0.10%	0.02%	-0.32%
JPY	0.59%	0.50%	0.45%		0.39%	0.34%	0.45%	0.11%
CAD	0.21%	0.12%	0.05%	-0.39%		-0.04%	0.06%	-0.26%
AUD	0.26%	0.17%	0.10%	-0.34%	0.04%		0.11%	-0.21%
NZD	0.14%	0.05%	-0.02%	-0.45%	-0.06%	-0.11%		-0.34%
CHF	0.48%	0.41%	0.32%	-0.11%	0.26%	0.21%	0.34%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

Agustin Wazne

FXStreet

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

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