Fed seen more likely to lift rates above 5% after strong jobs report

Feb 3 (Reuters) - Traders of futures tied to the Federal Reserve's policy rate saw an increasing chance Friday that the U.S. central bank is still two interest-rate increases away from ending its current round of rate hikes, after a government report showed January hiring was far strong than expected.

Fed funds futures fell after the U.S. Labor Department reported employers added more than half a million jobs last month, with prices now reflecting about an even chance that the Fed won't stop raising interest rates until they get them to the 5%-5.25% range. The current target range is 4.5%-4.75%. Before the report traders saw a pause at just under 5% as more than likely.

Reporting by Ann Saphir Editiing by Raissa Kasolowsky

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

Fed seen more likely to lift rates above 5% after strong jobs report

By Reuters

Reuters

Reuters

Solid price gains for gold, silver after busy news weekend

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

CPI, ECB rate decision could be the catalyst gold needs, with $2,708 the key resistance – StoneX’s Razaqzada