January 27, 2023

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Things are going on at the Oslo Stock Exchange

Pre-trading on the IG trading platform is at 08.20 points, up 0.7 percent since the start on the Oslo Poor’s on Friday.

Nordnet analyst Roger Berntsen believes the Oslo Stock Exchange (OBX index) will open 0.8 percent, or within range. [0,6, 1,0] percent.

“US investors sent indices lower on Thursday, in anticipation of the most important major number of the month, the labor market report from the US released today. The big question is whether the US labor market will finally show signs of weakness. So far, demand appears to be Employment remains high, despite a number of corporate giants announcing deep job cuts recently.”

“In order to stop inflationary pressure in economies, the Fed must keep the key interest rate ‘high’ as ​​long as unemployment is low,” Berntsen continues.

Ascension in Asia

In Asia, stocks are mostly pointing higher, with South Korea’s Kospi Index showing the way and rising 1.1 percent. The Sydney Stock Exchange rose 0.65 percent, while the Nikkei index rose 0.6 percent and the broader Topix index rose 0.4 percent in Tokyo.

On the downside, Hong Kong’s Hang Seng fell 0.2 percent after Beijing signaled more stimulus to the battered real estate sector.

Asia comment here.

The most important month

The rally in Asia comes ahead of today’s and – many would say – the most important report of the month, which is the labor market report from the US (Nonfarm Payrolls). consensus Refers to 200,000 new non-farm jobs being created in December – which in this case would be down from 263,000 in November.

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The unemployment rate is expected to remain unchanged at 3.7 percent, while the growth in hourly wages is expected to decline on a monthly basis from 0.6 to 0.5 percent. On an annual basis, hourly wage growth is expected to decline from 5.1 to 5.0 percent.