Latest non-farm payrolls vindicates the Fed's wait-and-see approach – CIBC

The firm discusses the Fed outlook after the US jobs report from Friday For some context, the report from Friday: US March non-farm payrolls +178K vs +60K expectedThe jobs data was much stronger than anticipated and certainly might have shut the door on talk of rate cuts, if not already because of the US-Iran conflict in the past… For some context, the report from Friday: US March non-farm payrolls +178K vs +60K expected . The jobs data was much stronger than anticipated and certainly might have shut the door on talk of rate... For some context, the report from Friday: US March non-farm payrolls +178K vs +60K expected The jobs data was much stronger than anticipated and certainly might have shut the door on talk of rate cuts, if not already because of the US-Iran conflict in the past month. CIBC weighs in by saying that: 'Payroll employment rebounded more than expected in March and the unemployment rate edged down, something that will… For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment. Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.