Markets continue reeling from Trump’s massive tariff announcement, and Nonfarm Payrolls will likely add fuel to the fire.
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Nonfarm Payrolls squeezed between Trump and Powell
How low can markets go? Is the US Dollar still a safe haven or will it continue crashing? Nonfarm Payrolls (US) usually set the market pulse, pointing to tendencies in America’s labor market. This time, there is room for some movement – especially if the data is positive.
However, investors are waiting for a speech from Fed Chair Jerome Powell, some three hours after the Nonfarm Payrolls. Will the world’s most powerful central banker focus on the still resilient US economy? He could lean on a potentially satisfactory NFP to convey a “business as usual” message.
The other preferred option for investors is for the Fed Chair to signal his institution is here to help via rate cuts and/or money printing.
For the NFP, expectations stand at 135K for March, similar to 151K in February, and the jobless rate is projected to remain unchanged at 4.1%.
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