US Payrolls Friday were close to a bullseye with a 236k After March 31, the rise was -17k In revisions there was an inclination toward the goods industry, but it was not as strong. We saw the expected 0.3% Hourly earnings increase that left 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 The labour force participation rate reached a new 3-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, remains below 102.00 Today at 101.85. EUR It remains at 1.0900 Today, it has fallen to 1.0875 On the NFP data. JPY Bruted 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 close mixed, led by tech stocks Thursday (+0.76% to +0.03%) #US500 Closed at 4105 – US500 FUTS…
