Daily digest market movers: DXY mildly down as markets digest mid-tier data
- The US Bureau of Labor Statistics (BLS) announced the number of job openings on the last working day of March to be 8.488M, below the anticipated 8.690M mark.
- The US Manufacturing sector showed signs of contraction in April per the Institute for Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI), registering a decline from the previous month.
- According to Automatic Data Processing (ADP), private sector jobs in the US increased by 192K in April, slightly surpassing the projected increase of 175K jobs.
- Although ADPreading surpassed expectations, was lower than March's 208K job gain, indicating a potential slowdown in employment growth.
- Regarding expectations for the next Fed meetings, the odds of a cut in June fell below 10%, dipped below 25% in July, and reduced to less than 55% in September.
- US Treasury bond yields are declining, with the 2-year yield at 5.01%, the 5-year yield at 4.70%, and the 10-year yield at 4.65%.
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