US job creation below expectations again

The US economy added 559k new jobs in May, twice more than in April, but much less than what the ADP survey and jobless claims figures suggested. This tends to reinforce the Fed’s dovish strategy, although higher inflation should nevertheless quickly justify a reduction in bond purchases. Janet Yellen said a bit more inflation and slightly higher interest rat would be a “plus”, but the bond market remains calm, the US 10y rate staying below 1.6%. The USD was also slightly lower after the job report, but the EUR/USD exchange rate remains below 1.22 ahead of the ECB meeting and the US inflation data this week.

US job creation below expectations again
Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

June 16, 2022

Oil fell on short term outlook

Yesterday, oil prices closed in red territories: ICE Brent front month closed at $118.51/b, making a 2.2% loss while NYMEX WTI for July delivery went…
May 7, 2021

Prices extended gains

European gas prices increased again yesterday, both on the spot and the curve. Prices continued to receive support from above-normal demand and weak pipeline supply,…
January 28, 2022

Confusion and volatility

The markets are very volatile after Jerome Powell’s statements. They are now expecting almost five 25bp hikes in the fed funds rate by the end…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet?  Sign up here!