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Jobs, jobs, jobs! Why the US nonfarm payrolls are a big deal

Han Tan
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Global investors are keenly watching the release of the May US nonfarm payrolls report, due on 4 June. If the official figure is anything like last month’s shocker, financial markets could be in for another volatile session.

Han Tan and his guest, FXTM research analyst Lukman Otunuga, discuss the significance of the NFP report for the US inflation outlook, and what it could mean for the Fed’s next move.

Music: www.bensound.com

The May US nonfarm payrolls report provides the next key marker in the ongoing debate across global markets. Despite the Fed’s assurances, some investors still think the stellar US economic recovery could mean that higher inflation is here to stay. Persistently higher inflation could in turn force the Fed to wind up its support measures sooner than expected, which isn’t welcomed news for risk assets.

The US dollar is primed to be the main conduit for the market’s reaction, though stocks, Treasuries, and even gold prices wouldn’t be spared from another massive surprise in the wake of the imminent NFP report.

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