Good Morning, Traders.
It is Friday the 7th of April, the day of Nonfarm Payrolls. Here are the things to look out for.
Sentiment
Today is NFP day!
According to Economists, the report will likely show a slowing in the pace of hiring, but it will still be too fast to put Federal Reserve policymakers at ease. This payrolls print, along with earlier this week's jobless claims and JOLTS data, will almost certainly persuade policymakers that interest rates are approaching a sufficiently restrictive level.
According to JPMorgan Chase & Co., the release of key US jobs data on Good Friday risks making the Treasuries market reaction one-and-a-half times more volatile than usual.
In the most recent week, banks reduced their borrowings from two Fed backstop lending facilities, indicating that the financial stresses that emerged following a string of bank failures last month may be easing.
US banks are pitted against one another as regulators seek to strengthen oversight following a string of failures that eroded trust in the financial system.
Docket
8:30 AM ET
US Nonfarm Payrolls
Median Forecast 235K | Prior 311K | Range 300K/150K
US Unemployment Rate
Median Forecast 3.6% | Prior 3.6% | Range 3.7%/3.5%
US Average Earnings MoM - Median Forecast 0.3% | Prior 0.2% | Range 0.4%/0.2%
Good Luck Trading!
