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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI: Japan Govt Keeps Economic Assessment, Ups Imports
MNI EUROPEAN OPEN: CAD, MXN Weaken On Tariff Threat, JPY Firms
Another strong labour market report
- So overall this looks a very strong report.
- The main figure that sticks out at first glance is the earnings inc bonus, up 7.0%Y/Y (consensus 5.4%). The ONS said bonus payments were strong in March 2022 and weak in March 2021 and says " The largest bonus payments are in the finance and business services sector, but are high across several sectors for March 2022." This is also partly skewed by last year's number being suppressed by the furlough scheme. Note that the ex-bonus regular pay, was only a tenth higher than expected at 4.2%Y/Y.
- Vacancies to unemployed also signalling an even tighter labour market here. So all in all a strong report.
- GBPUSD up 20 pips on the report, we might get more upside when STIR markets open at 7:30BST.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.