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February 11th - According to foreign media reports, the yens movement has been quite interesting since the release of the non-farm payrolls data. Boosted by the strong employment data, the USD/JPY exchange rate initially surged but subsequently retreated. Mizuho Securities strategist Jordan Rochester speculates that the release of this employment data may have provided traders with a good liquidity opportunity to close out long-held positions.February 11th - Goldman Sachs Asset Management analyst Kay Haigh stated that while there are some initial signs of a renewed tightening in the labor market, its still a long way from a full tightening. Given the economys continued outperformance, the FOMCs focus will shift to inflation. We still believe the Fed has room for two more rate cuts this year; however, a surprisingly high CPI figure released on Friday could tilt the Fed towards a hawkish stance.February 11th - According to foreign media reports, the US non-farm payrolls data for January unexpectedly recorded 130,000 jobs, exceeding the expectations of almost all investment banks. Only two investment banks had higher expectations than the published figure. One was Citigroup, which predicted 135,000 new jobs in January, and the other was Santander Bank, which expected 130,000.According to foreign media reports, the US healthcare sector saw another strong job performance in January, adding 82,000 jobs. The construction industry added 33,000 jobs. Federal government employment decreased by 34,000.U.S. manufacturing employment rose by 5,000 in January, the first increase since September 2024.

The conclusion of the Argentine truckers' strike increases grain shipments

Charlie Brooks

Jul 01, 2022 11:36


The Argentine truckers' strike ended on Thursday, when several unions incensed by fuel shortages reached an agreement to terminate the one-week protest near the vital port of Rosario, which is expected to assist future grain exports.


The truck driver's protest over high gasoline prices has halted shipments of corn and other goods, just as the bulk of the harvest was making its way to ports for export to worldwide markets.


Due to the exclusion of a few tiny truckers groups from the deal, however, it is possible that certain protests may continue.


Argentina is the second-largest exporter of maize, the top exporter of processed soy oil and meal, and a major supplier of wheat and beef.


One of the unions, Autoconvocados Unidos, issued the following statement: "Despite our dissatisfaction (with the latest settlement of truck freight rates) and in light of the present crisis in our country, we have chosen to halt the strike."


The union described their action as an act of kindness.


The number of trucks entering ports surged by 70 percent on Thursday compared to the previous day, reaching approximately 1,500 vehicles, as reported by the Rosario grains market.


The Rosario ports are the departure point for 80 percent of Argentina's agricultural exports, the vast majority of which are transported by truck.


The ability of trucks to access the port is returning to normal, according to the manager of the country's marine port chamber, Guillermo Wade.


Additionally on Wednesday, the transport ministry secured a deal with non-striking agricultural and transport groups to hike grain freight charges by 25%.


However, the majority of protesting unions, led by the UNTRA truckers' union, felt the rate increase insufficient and chose to dismantle highway blockades.


The head of the UNTRA, Carlos Geneiro, said, "We have far greater expenses than that."


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