The released data on the number of new jobs in the US non-farm sector for April showed slightly better values than the consensus forecast suggested.
According to published data, the US economy received 428,000 new jobs in April against the forecast of 391,000, which is a positive moment, however, the previous figures for the number of new jobs were revised downward to 428,000 from 431,000.
The presented statistics data were met quite calmly at the market. In the foreign exchange market, the dollar practically did not react, futures for the main US stock markets rose locally. The 10-year Treasury yield has corrected downward and is currently at 3.055%, down 0.42%.
Why did the market react to this data in such a way?
We believe that the main reason is the initial focus on, possibly, negative numbers. And since the data came out higher than expected, then, most likely, the main movements will already begin at the opening of trading in America, and here a lot will depend on which side the major market players take. If they perceive these data as an obstacle to the active increase in Federal Reserve rates, albeit a temporary one, then we can expect a noticeable rollback of stock indices today and a weakening of the dollar. We believe that such a variant of events is quite possible.
