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US Labor Market Adds 303k New Jobs in March, Beating Forecasts

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US,Labor Market,Jobs Report

The latest Jobs Report (NFPs) shows the US labor market in rude health with 303k new jobs added in March, trouncing forecasts of 200k. The unemployment rate slipped 0.1% lower to 3.8%, while average hourly earnings m/m met forecasts of 0.3%. Nonfarm private payrolls also beat forecasts, 232k compared to 160k.The US dollar index added 30 ticks after the release, continuing Thursday’s late move higher after Federal Reserve member Neel Kashkari openly queried if rate cuts were appropriate this year. Today’s strong labor report will further stoke fears thatmay become stickier than expected, meaning US rates will be left on hold for longer. Market rate cut probabilities were trimmed slightly after the NFP release with the June meeting now seen as just 56/44 in favour of a 25 basis point cut.Gold’s recent rally stalled post-release with a haven still supporting the precious metal as Israel and Iran continue to warn of further military action.Retail trader data shows 43

The latest Jobs Report (NFPs) shows the US labor market in rude health with 303k new jobs added in March, trouncing forecasts of 200k. The unemployment rate slipped 0.1% lower to 3.8%, while average hourly earnings m/m met forecasts of 0.3%. Nonfarm private payrolls also beat forecasts, 232k compared to 160k.

The US dollar index added 30 ticks after the release, continuing Thursday’s late move higher after Federal Reserve member Neel Kashkari openly queried if rate cuts were appropriate this year. Today’s strong labor report will further stoke fears thatmay become stickier than expected, meaning US rates will be left on hold for longer. Market rate cut probabilities were trimmed slightly after the NFP release with the June meeting now seen as just 56/44 in favour of a 25 basis point cut.Gold’s recent rally stalled post-release with a haven still supporting the precious metal as Israel and Iran continue to warn of further military action.Retail trader data shows 4

 

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