U.S. jobs beat expectations once again
It’s definitely getting harder and harder to question the strength of the job market south of the border. Once again, employment data released on Friday outstripped expectations, with 215,000 positions created in March rather than the 205,000 experts had forecast. On average over the past year, the U.S. economy was able to create 233,000 jobs per month, confounding skeptics. Moreover, average wages in the U.S., an important variable in the eyes of the Fed, have climbed 2.3% in the past year. Despite these positive developments, the U.S. dollar failed to make significant gains after the data were released. It would appear that despite this good news, the market believes that the world economic slowdown could justify a monetary status quo in the United States.
In Europe, the Brexit referendum continues to make headlines survey after survey. The most recent figures show 43% of respondents in favour of leaving the European Union, with 18% undecided. In short, a perfect recipe for heightened volatility in the pound sterling.
