Highlights of the May 2018 US jobs report – was +164K (revised to 159K) – Two month net revision +15K – Private payrolls +218K vs +190K expected – Prior private payrolls 168K (revised to 162K) Wages:
Trump got the numbers yesterday afternoon The executive gets the jobs report early, so he’s tipped off a strong number. The US dollar has been rallying since he tweeted this. Watch out for a ‘sell the fact’ trade because a strong report is already priced in now.
Forex news for North American trade on June 1, 2018 Markets: – GBP leads, JPY lags – S&P 500 up 29 points to 2734 – WTI crude oil down $1.48 to $65.56 – US 10-yaer yields up 4 bps to 2.90%
The market is doing all sorts of weird things today While commodity currencies are pinned down due to fears of the trade rhetoric escalating, USD/JPY is not playing by the same rules. The pair is rising higher ahead of the US jobs report as US yields continue to climb too.
Spanish 10-year bond yields fall by 15 bps on the day Mariano Rajoy lost the no-confidence motion earlier, and Socialist leader Pedro Sanchez is due to take over as prime minister of Spain. Sanchez’s appointment seems to be met with good vibes right now as he is seen as a more “pro-European” candidate.
Forex news from the European trading session – 1 June 2018 Headlines: Markets: – GBP leads, JPY lags on the day – European equities higher, Italy MIB leads gains
GBP/USD touches a session high of 1.3328 Sterling is the best performing major currency at the moment, as traders push cable higher following a break of the 1.3300 handle. The pair was trading around 1.3280-90 levels even after the beat in the UK PMI figures earlier – though the data beat was unconvincing when you…
The May jobs report will be due at 1230 GMT today This is usually Adam’s post, but I always find these figures useful to keep in mind ahead of the data release later. Here’s what you need to know:
Happy non-farm payrolls Friday This week has already had plenty of drama but there will be a bit extra with today’s release of non-farm payrolls. As usual, it’s all about wage growth.