n the next few hours, all eyes across the board are headed toward the US once again, as we all wait for the US Jobs Report for the month of April.
This report is likely to have a notable impact on the markets, whatever the outcome is. Whether if it’s good or bad outcome, in both cases, be prepared for a notable move across asset classes.
Why Is This Report Different From Any Other?
Last month when March’s jobs report figures came in with an apparent decline, showing a significant slowing down in new jobs to just below 100K, the market now has a significant question, was March’s data transitory? Or it was the beginning of a slowing down.
Today’s report should give us a clear answer. If March’s data was transitory, then April’s figures should come in with much higher than expected, to cover March’s loss.
Otherwise, a weaker report would be a clear sign that a slowing down is already in place, which likely to lead to some actions by the Federal Reserve at its next meeting. Meaning, whatever the outcome is, the Fed’s meeting in June will be a key event for the market.
Expectations
The estimates for today’s jobs report are somehow encouraging.
The US economy is expected to add more than 190K new jobs in April after adding just 98K new jobs in March.
Read more: https://www.orbex.com/blog/2017/05/todays-jobs-report-feds-spotlight/