US Payrolls on Friday were almost a bullseye. 236k After March 31, the rise was -17k In revisions, there was a slight bias toward the goods sector. We got the expected 0.3% Hourly earnings rise, leaving a 4.2% y/y gain. The unemployment rate dropped to 3.50% Rates starting at 3.57%. This rate is still higher than the January low of 3.43% (54 years ago), with substantial gains of 577k For civilian employment 480k For the labour force, the participation rate in the labour market rose to a new three-year high of 62.6% From a previous high of 62.5%. The workweek saw a further decline. 34.4 This resulted in a -0.1% decrease in hours-worked after minor downward revisions in March. It raises expectations for a 25-bp Fed hike on May 3.
Overnight: Japan – March consumer confidence Index 33.9 vs 31.1 Prior
- FX – USDIndex slipped under 101.50 Friday, and still below 102.00 Get started today 101.85. EUR It remains at 1.0900 Today, it has fallen to 1.0875 On the NFP data. JPY Breach 132.00 Friday and Saturday holds 132.60 Priority for Gov. Ueda. Sterling’s Reduction from the key 1.2500 Tests 1.2400 today.
- Stocks – US markets closed mixed on Thursday led by tech stocks (+0.76% to +0.03%) #US500 Closed at 4105 – US500 FUTS…