Some brokers postpone the Fed tariff cutting bet after resilience in US job data

The main brokers, including Goldman Sachs and Barclays, saw the beginning for the US Federal Reserve Cycle after a stronger work report from the estimated indicating resilience in the US labor market as a protectionist trade policy of President Donald Trump to increase economic uncertainty.

Data on Friday showed that non-agricultural payroll increased by 177,000 jobs last month after an increase with a revision of 185,000 in March, while economists surveyed by Reuters estimated the payroll submitted by 130,000 jobs in April.

Barclays and Goldman Sachs said on Friday that they expected the central bank to provide the next interest rate cutting in July compared to the previous June cutting estimates.

At present, traders, on average, expect a total interest rate of 80 basis points for this year, according to data collected by LSEG.
Source: Reuters