Commenting on the US non-farm payrolls announcement this afternoon, Richard Flynn, Managing Director at Charles Schwab UK notes: “At the moment’s jobs report is stronger than anticipated, indicating that demand within the labour market stays excessive, following equally increased than predicted figures in final month’s report. We will count on to see some volatility within the inventory market as traders react to those figures within the coming days of buying and selling, however as for the larger image, these numbers are unlikely to rock the boat an excessive amount of. At first of the yr, the market predicted as many as seven price cuts, however financial information launched between then and now has tempered expectations surrounding rates of interest. At the moment’s non-farm payroll report might be seen to assist newer, extra conservative expectations of three price cuts in 2024 – which, funnily sufficient, is what the Fed has been forecasting all alongside.”