I posted last month how the US non-farm payrolls had come in above estimates for 10 straight months previously and coming into today, it is 11 months in a row now that the data has beat expectations. That is quite an impressive feat.
The estimate this time around for the March figure is +239K on the headline, so we’ll see if there will be any further hiccups after the softer set of numbers from the US throughout the week so far.
But either way, don’t expect the start of the Easter break to be a quiet one even if most European (and other) markets are closed today. The Fed outlook, bond market focus, and dollar sentiment are all extremely sensitive factors impacting trading sentiment at the moment and they will all come into play via the jobs report later.
That will make for a dicey end to the week especially with the bond market sitting on edge.
This article was written by Justin Low at www.forexlive.com.