US jobs continue to grow but wages falter - Fridays non-farm payroll numbers for the US came in at 242,000 above market predictions of 195,000. This figure continued to reassure investors that the recovery of the world’s largest economy remained on track. Having said that, wage inflation did fall short of expectations causing further concerns that many Americans are still not seeing the recovery feeding into their pay cheques. These 2 opposing figures will continue to weigh on the FED as they meet for this month’s monetary policy meeting with markets believing there is now an 8% probability of the US increasing its lending rate at this meeting.
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ECB delivers a bigger stimulus than expected
ECB delivers a bigger stimulus than expected