Weak US jobs growth may undermine Fed rate hike expectations
Softer US employment data could weaken expectations for further Federal Reserve rate increases and pressure the US dollar.
Weak US jobs growth is undermining market pricing for additional Federal Reserve rate hikes, which could also lead to a decline in the US dollar. Recent economic data from New Zealand and Australia has shown strength, providing a contrast to the softer US employment picture.
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Roger J Kerr sees weaker US jobs growth undermining the market pricing for an inflation-fighting Fed hike, and the USD will fall too. At the same time he finds strength in recent NZ and Australian economic data