Red Hot US Jobs Report

The April US Non-Farm Payrolls came in at 253 000, which is much hotter than the expected 185 000, which could see the US Federal Reserve recalibrate its rate hike approach.

Unemployment, another big focal point for the Fed officials, moved slightly lower from the previous month to 3.4%, while the US Average Hourly Earnings (MoM) ticked to 0.5% in April. The benchmark S&P 500 Index and the US 2- and 10-Year Treasuries also saw volatility enter the market after the announcement but stabilised as the market digested all the jobs data.

According to the US Bureau of Labor Statistics report, employment across various sectors picked up in April, which will be a focal point for the Fed, along with the US CPI data release scheduled for the 10th of May.

Sources: Bloomberg, US Bureau of Labor Statistics.

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