Friday’s US jobs data brightened up the mood among Federal Reserve doves, as both the NFP, unemployment rate and wages pointed at a slowing labour market in April. The US economy added 175K new nonfarm jobs last month, the wages grow less than 4% - which is still twice the Fed’s inflation target but falling – and the unemployment rate rose to 3.9% versus the expectation of a steady 3.8%.
Elsewhere, Cable is fighting the 200-DMA offers but the widening gap between the Fed – which has its hands tied due to a pickup in US inflation – and the Bank of England which could justify a summer rate cut due to slowing British inflation and a morose British economic outlook, could limit the
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