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New York Foreign Exchange Market: The fall of the French government dragged down the euro's gains, with the australian dollar underperforming.
After the French government collapsed due to a parliamentary vote of no confidence, the euro nearly erased all of its previous gains, and the dollar also fell in the New York forex market on Wednesday. The australian dollar lagged among the G-10 currencies. The euro/dollar remained flat at 1.0511, having briefly risen 0.3% before the parliamentary vote in France. The French parliament passed a vote of no confidence against the government of Michel Barnier, leading to its collapse. "The moderate market reaction further indicates that many negative factors have already been priced into the euro," said Valentin Marino, head of G-10 forex strategy at Amundi. He noted that the market's focus is on.
The wage growth rate of the smallest businesses in the USA has reached the fastest pace in two years.
According to data released by the ADP Research Institute, the wage growth rate for the smallest businesses in the usa accelerated in November for the first time since early last year. In November, wages for companies with fewer than 20 employees increased by 4.2% year-on-year, up from 3.9% in October, marking the largest increase since early 2022. These micro-enterprises employ more than a quarter of the workforce in the usa, so their accelerating wage increases may catch the attention of Federal Reserve decision-makers, who are closely monitoring the labor market for signs of rising inflation pressures. The number of employees in companies with 20-49 employees is slightly...