US Non Farm Payrolls (Jan) 130K vs. Exp. 70K (Prev. 50K, Low. -10K, High. 108K); Two-month net revisions: -17K (prev. -76K)
The US Non-Farm Payrolls for January came in significantly higher than expected, indicating a robust job market and potentially altering the outlook for economic growth.
BMW (BMW GY) is recalling vehicles from several models globally, Bild reports citing KFZ; 575k vehicles worldwide are affected.
[MARKET UPDATE] USD/JPY sharply moves lower from 154.35 to 152.99 in a sharp move post the NFP rise, despite a lack of headlines; Note Japanese markets were closed overnight amid a domestic holiday
US Non Farm Payrolls (Jan) 130K vs. Exp. 70K (Prev. 50K, Low. -10K, High. 108K); Two-month net revisions: -17K (prev. -76K)
UK government is reportedly considering a new Help to Buy scheme for first-time buyers, The Telegraph reports
German Foreign Minister says Central Asia needs to do more to follow the EU's sanction against Russia
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- Says that the January winter weather had no discernible impact on the jobs data.
- January weather impacted a collection of household data.
The downward net revisions suggest some caution in previous data, but the strong beat may compel the Fed to reassess its policy stance sooner rather than later, especially as weather was not a factor in this print. Overall, this suggests upward pressure on rates may follow as the employment landscape appears stronger than anticipated.
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