020 7898 0500The main release on Friday was non-farm payrolls which came in much better than expected. Analysts had predicted there would be 189,000 jobs created in May, but the figure was actually 223,000. The unemployment rate dropped to 3.8% when it had been expected to hold steady at 3.9%, so it was a pretty impressive day for the US.
Manufacturing PMI came in above expectations too at 58.7 against a forecast of 58.1. Still, fears over a trade war continue and, while the dollar managed to strengthen once more against the euro, it fell back against sterling. The question really is when will the next big move come and, when it does, in which direction will it be?
Today is a fairly quiet start to the week, but tomorrow we’ll see composite and services PMI, as well as non-manufacturing PMI.
