Some brokerages postpone Fed rate cut bets after resilience in US jobs data

May 5 (Reuters) - Major brokerages, including Goldman Sachs and Barclays see a later start to the U.S. Federal Reserve's easing cycle after stronger-than-expected jobs report signaled resilience in the U.S. labor market as President Donald Trump's protectionist trade policy heightens economic uncertainty.

Data on Friday showed non-farm payrolls increased by 177,000 jobs last month after rising by a downwardly revised 185,000 in March, while economists polled by Reuters forecast payrolls advancing by 130,000 jobs in April.

Barclays and Goldman Sachs said on Friday that they were expecting the central bank to deliver the next interest rate cut in July as compared to their previous forecast of a June cut.
Currently, traders, on average, expect rate cuts totaling 80 basis points for the year, according to data compiled by LSEG.

Compiled by the Broker Research team in Bengaluru; Editing by Anil D'Silva, Mrigank Dhaniwala, Tasim Zahid and Krishna Chandra Eluri

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

Some brokerages postpone Fed rate cut bets after resilience in US jobs data

By Reuters

Reuters

Reuters

Gold has a path to $4,000 as U.S. credibility crumbles - WisdomTree’s Nitesh Shah

Why gold revaluation charts put prices at $25,000-$55,000 if history rhymes, silver poised for breakout: Crescat Capital Strategist

Whether 145% or 10%, tariff uncertainty is enough to stop U.S. gold and silver imports, distort the metals market at all levels – Experts

Gold price plummets as U.S.-China trade relations thawing

Gold price down a bit amid better risk appetite