Market news
02.06.2023, 18:51

Fed: May jobs report should leave a hike option fully on the table – TDS

Data released on Friday, showed Nonfarm Payrolls rose by 339K in May surpassing expectations. Analysts at TD Securities point out payroll strength keeps the door open for another rate hike from the Federal Reserve. 

Key quotes: 

“The two-month net revisions also added a notable 93k jobs to the employment series, which resulted in the 3-month moving average moving significantly higher to 283k in May from 222k in April. Not really the direction the Fed's is hoping for. With that said, the unemployment rate unexpectedly rose by 0.3pp to 3.7%, though the details behind that move were more nuanced.

“The May jobs report should leave the hike option fully on the table for the Fed. If Fed officials were looking for clear signs of labor-market slowing, we do not think this reports clearly offers that perspective despite the rise in the UE rate. We continue to look for the Fed to lift rates by a final 25bp to 5.25%-5.50% range in June, but also acknowledge that the FOMC's decision will be a very close call.”
 

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location