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U.S. nonfarm payrolls in March were slightly worse than market expectations, with only 431,000 new jobs added


The United States added 431,000 non-agricultural jobs in March, which was slightly lower than market expectations, but the 431,000 job growth was still a pretty strong number. Combined with the unemployment rate falling to a two-year low of 3.6%, all this has strengthened the market's expectations that the Federal Reserve will accelerate interest rate hikes this year. However, according to changes in US dollar interest rate futures prices, the market estimates that the Fed will only raise interest rates by 25 basis points at the May 5 interest rate meeting, and the probability is consensus. As for the estimated rate hike by half a percentage point, the probability is more than 70%. By the end of this year, the interest rate has climbed to the range of 1.75% - 2%, which is basically the market consensus.
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