Weekly Economic Perspectives: An Oddly Weak US Employment Report

Chief Economist

  • The Economy
    Lots of oddities in shockingly weak US payrolls report. Canadian employment falls on Covid-related restrictions. The BoE slows QE purchases and sharply upgrades forecasts. Torrid growth in eurozone manufacturing, as services revive. Annual wages rise in Japan on base effects. The RBA keeps policy unchanged but upgrades forecasts.

  • The Market
    Global equities in broad advance amid earnings and vaccinations. Bonds get a bid even though impact of US payrolls shock proves brief. AUD strengthens on better GDP outlook form the RBA. Oil gains and gold has the best week in a while.