Market Mood Brightens as Jobs Report Points to Economic Slowdown

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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