Daily digest market movers: DXY falls to lows after NFPs figures
- February's Nonfarm Payrolls reported by the US Bureau of Labor Statistics exceeded expectations, coming in at 275,000, remarkably higher than the predicted 200,000, indicating robust employment growth.
- On the negative side, the Unemployment rate for February saw an increase to 3.9%, higher than expectations of 3.7%.
- Wage inflation measured by the Average Hourly Earnings missed the consensus to rise by 4.3% YoY.
- US Treasury yields show a mixed performance with the 2-year yield at 4.48%, the 5-year yield at 4.06%, and the 10-year yield at 4.09%.
- According to the CME FedWatch Tool, the odds of Fed interest rate cuts in March and May remain low. Markets are bracing for the first cut to come in June.
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