So much more.
From Marc Chandler at Bannockburn Global Forex, jumping into the middle of his commentary:
...Data:
- As the week progressed, economists became more confident of firm, even if subdued, increase in US nonfarm payrolls. The median in Bloomberg’s survey now stands at 70k (up from 45k a week ago), with earnings expected to tick up and the unemployment rate to slip. If true, it will reinforce ideas that like last year, the Federal Reserve will begin this year with an extended pause following three rate cuts. That said, job growth has stalled, especially given Fed Chair Powell’s admission that the monthly figure may be overstated by around 60k. Assuming the median projection is correct, the three-month average increase in nonfarm payrolls would be about 10k. The reaction to the jobs data may be more subdued than usual as participants await the Supreme Court’s long-awaited verdict on the president’s use of emergency powers to levy broad tariffs. Although there are other ways to secure high tariffs, most measures require a greater role for Congress....
....MUCH MORE, so much more.
