Setback on the price lists, the US labor pushes the Fed to raise interest rates – The Republic

Milan – Hours 12:20. The European markets took a break after three days of recovery, driven downward by the heavy closing of Wall Street and the new uncertainty from Asia. The primary markets of the Old Continent deal in negative territory, waiting to see which direction will the Federal Reserve in the meeting of 16 and 17 September next, on which the table is the possible rate hike interest, missing since 2006. Milan proceeds weak while filing losses (-0.25%), Frankfurt recovers equal, London withdraws instead of 0.3% and Paris 0.15%.

Yesterday, the US labor market gave new signs of strength, with job openings and labor turnover survey (Jolts) that has indicated a record of announcements of job openings to 5.8 million. Assumptions have dropped just below 5 million and this may mean that employers are struggling to cover some positions wages offered or who can not find the staff with the skills sought. Anyway, after seeing the unemployment rate down to its lowest since 2008, Janet Yellen know that the employment indicators are strong; also he knows, on the other hand, that the external pressure is to caution. The last one was the World Bank to ask Washington to proceed with feet of lead, to avoid sconquassi emerging markets. Today we look at requests for unemployment benefits, while the analysis of future Fed Funds still shows a 28% chance of increase in interest rates in September and 57.5% in December.

morning, the Tokyo Stock Exchange closed down 2.5%, after + 7.7% amazing Eve who represented a historic leap. Machinery orders from the private sector in Japan marked a slowdown of 3.6% in July over the previous month. Shanghai has tried to hold blow, but eventually closed down 1.4%, while Hong Kong made worse with a fall of 2.7%. Accelerates while the ‘ Chinese inflation , driven by food: in August consumer prices were up 2% on year compared to an increase of 1.6% trend recorded in the previous July. The result is higher than expected by some analysts who predicted a rise in prices up 1.8 percent.

The real economy signals the slowdown in France : a July industrial production marked -0.8% on the month, doing worse than expected. Dodge instead to the Spanish one, with an increase of 5.2% over year. Stabilizes the ‘ € in the area 1.12 to the dollar. Little blur the yen, which loses on the common currency at an altitude of 135.3. The spread between BTPs and German Bunds is slightly higher in area 115 basis points, with the yield on Italian ten-year 1.83%. The Treasury sold all 7.5 billion euro of Bot in a year with rates slightly up to 0.028%, from the record low of 0.011% in the previous auction in August. Demand drops, with a coverage ratio of 1.5 dall’1,72 earlier.

As mentioned, last night Wall Street closed down snubbing the good pace of European stock exchanges. The Dow Jones has left on the ground 1.45% to 16,253 points. The technology index Nasdaq scored -1.15% at 4,756 points. Continue today fluctuations of raw materials: quotations oil down slightly in Asian markets, with futures WTI chescivola below $ 44 a barrel while Brent backs off 37 cents to $ 47.25. Gold down Asian markets. The precious metal fell to $ 1,103.97 (-0.4%).