{"id":13201,"date":"2024-04-05T18:34:05","date_gmt":"2024-04-05T13:04:05","guid":{"rendered":"https:\/\/bigbreakingwire.in\/us-march-jobs-surge-in-payrolls-lower-unemployment-earnings-up-gold-falls-dxy-rises-bls-revisions-positive\/"},"modified":"2024-04-05T19:30:31","modified_gmt":"2024-04-05T14:00:31","slug":"us-march-jobs-surge-in-payrolls-lower-unemployment-earnings-up-gold-falls-dxy-rises-bls-revisions-positive","status":"publish","type":"post","link":"https:\/\/bigbreakingwire.in\/us-march-jobs-surge-in-payrolls-lower-unemployment-earnings-up-gold-falls-dxy-rises-bls-revisions-positive\/","title":{"rendered":"US March Jobs: Surge in Payrolls, Lower Unemployment, Earnings Up; Gold Falls; DXY Rises; BLS Revisions Positive"},"content":{"rendered":"
<\/div>\n

U.S. March Nonfarm Payrolls: The United States’ March nonfarm payrolls surged by 303,000 jobs, surpassing the estimated 212,000 and exceeding the previous 275,000 figure.

U.S. March Unemployment Rate: March’s unemployment rate in the U.S. stood at 3.8%, lower than the estimated 3.9% and consistent with the previous month’s 3.9%.

U.S. March Average Hourly Earnings (MoM): Average hourly earnings for March increased by 0.3% compared to the previous month, meeting expectations and showing improvement from the previous 0.1% growth.

Impact on Spot Gold: Following the release of better-than-expected nonfarm payroll data, spot gold experienced a decline of $14 per ounce.

DXY Performance: The U.S. Dollar Index $DXY rose to 104.58 in response to the robust nonfarm payroll figures.

BLS Revisions: The Bureau of Labor Statistics (BLS) revised January’s total nonfarm payroll employment figures upward by 27,000 jobs, now totaling +256,000. However, February’s numbers were adjusted downward by 5,000 jobs to +270,000. With these revisions, employment for January and February combined is now 22,000 jobs higher than previously reported.<\/p>\n\n\n\n

The release of the March nonfarm payrolls report on Friday led to a notable downturn in U.S. stock index futures. The report revealed a more robust than anticipated rise in employment, which could postpone the Federal Reserve’s intentions to lower interest rates.<\/p>\n\n\n\n

There has been a notable change in the Federal Reserve’s monetary policy outlook lately. Forecasts for interest rate cuts have transitioned from expecting a reduction in June to a more probable scenario in September. This adjustment in pricing is evident in both the Fed funds futures market and the yield curve.<\/p>\n\n\n\n

The two- and five-year Treasury yields have reached their peak levels for the year, signaling diminished anticipation of rate cuts. The two-year Treasury yield surged to 4.749%, while the five-year note yield touched 4.367%.<\/p>\n\n\n\n

Folqlowing the release of job data, US interest rate futures have reduced the likelihood of a rate cut in June to 54.5%, according to CME’s Fedwatch.<\/p>\n\n\n\n

The market currently indicates a greater likelihood of Jerome Powell and the US Federal Reserve increasing rates at the upcoming meeting, as opposed to cutting them, according to the CME FedWatch Tool.<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

U.S. March Nonfarm Payrolls: The United States’ March nonfarm payrolls surged by 303,000 jobs, surpassing the estimated 212,000 and exceeding the previous 275,000 figure. U.S.…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[65,618,31,616,619,39],"tags":[3038,3041,2404,3040,3042,3011,2696,3036,3039,2400,3037],"class_list":["post-13201","post","type-post","status-publish","format-standard","hentry","category-bigbreakingnow","category-brokerage-reports","category-business","category-stock-in-news","category-stocks-in-news","category-world","tag-average-hourly-earnings","tag-bls-revisions","tag-data","tag-dxy","tag-economic-indicators","tag-employment","tag-march","tag-nonfarm-payrolls","tag-spot-gold","tag-u-s","tag-unemployment-rate","entry","rows"],"jetpack_publicize_connections":[],"modified_by":null,"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfgCxS-3qV","jetpack_sharing_enabled":true,"jetpack_likes_enabled":false,"_links":{"self":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/13201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/comments?post=13201"}],"version-history":[{"count":0,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/13201\/revisions"}],"wp:attachment":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/media?parent=13201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/categories?post=13201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/tags?post=13201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}