Goldman Sachs reiterated Fed forecast after weak jobs report. Fed to cut by 25bp this week

The US jobs report was about ‘storms and strikes’ says Goldman Sachs. The numbers ICYMI:

• US October non-farm payrolls +12K vs +113K expected

• Forexlive Americas FX news wrap: The worst non-farm payrolls reading since 2020

Goldman Sachs, in brief:

• Strikes and storms were a weight on the October employment report
• The data is an argument for a continuation of the Federal Open Market Committee (FOMC) easing cycle
• Expect the Committee to cut by 25bp at the meeting this week, November 6 and 7

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This article was written by Eamonn Sheridan at www.forexlive.com.