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US nonfarm payrolls eyed as market pressure grows on Fed to cut rates
video It’s that time of the month again and all eyes will be on the latest jobs report out of the United States on Friday at 12:30 GMT. The May figures are expected to be somewhat softer from April but no doubt still indicative of a strong economy. However, with markets strongly convinced that the Fed will have to cut rates soon, the jobs data is unlikely to alter those expectations unless there are big surprises in the data. With some early signs that the US economy could be headed for a slowdown as the worsening trade dispute starts to bite into business confidence, the labour market so far remains very tight. ... (full story)
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