US Latest Non-Farm Payrolls Far Exceed Expectations

The US just released a non-farm payrolls report that far exceeded expectations. The market forecast for March was an increase of 60,000 jobs, but the actual number came in at 178,000, a significant rebound from the previous month's negative 92,000.

The main reasons for this are the end of severe weather and the resolution of strikes in sectors like healthcare. Additionally, the January figure was revised up to 160,000, while February's was revised down to 133,000.

Such strong employment data will undoubtedly ease pressure on the Federal Reserve, allowing it to focus more on inflation.

Following the data release, the market further reduced its bets on Fed rate cuts this year, which is also evidenced by the recent surge in the US dollar and US Treasury yields.

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