Daily digest market movers: US Jobs report ahead
- At 12:30 GMT, the US Employment Report for April is set to be released:
- US Nonfarm Payrolls changes are expected to increase by 243,000, lower than the 303,000 rise seen in March.
- Monthly Average Hourly Earnings are expected to grow at a stable 0.3%.
- The Unemployment Rate is set to remain at 3.8%.
- Several Japanese companies have reported to Bloomberg that they are facing substantial issues due to the recent weakness in the Japanese Yen. A boom in tourism is also putting pressure on local inflation.
- Japanese markets are closed on Friday for the Greenery Day bank holiday.
- Equities are trading in the green with both European indexes and US Futures up near 0.5% on average.
- The CME Fedwatch Tool suggests an 85.5% probability that June will still see no change to the Federal Reserve's fed fund rate. Odds of a rate cut in July are also broadly out of the cards, while for September the tool shows a 60% chance that rates will be lower than current levels.
- The benchmark 10-year US Treasury Note trades around 4.57%, the lowest level this week, while Japanese 10-year JGB are trading at the high for this week near 0.889%.
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