06/02/2017 - US Job Growth Soars, Wage Growth Flat

USD

The number of jobs added to US non-farm payrolls in January soared to 227,000,  Economists had expected a rise of 175,000 jobs during the last month, but the measure instead jumped to its highest point since July. However disappointing wage growth reduced expectations of another  interest rate rise from the Federal Reserve. A March  increase is now given just a 9 percent chance from about 18 percent on Thursday as a result  the USD was sold off. 

GBP

Growth in Britain's services sector slowed for the first time in four months in January as businesses battled the sharpest rise in their costs in more than five years .Friday's data indicated  that a limited slowdown might be taking place in the  UK. The Markit services purchasing managers' index (PMI) dropped to 54.5 from December's 15-month high of 56.2 coupled with drops in manufacturing and construction PMIs this week. The survey was in line with quarterly growth slowing to 0.5 percent in early 2017 from 0.6 percent at the end of last year.

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