The latest data from the US non-farm payrolls has exceeded analysts' expectations, with the economy adding 254,000 jobs in September, surpassing the anticipated 147,000. This marks the highest level of job additions in four months.
The unemployment rate also dipped to 4.1%, down from the expected 4.2%, while wage growth accelerated to 0.4% month-on-month, up from 0.3%.
The strong job additions have led to a notable shift in market expectations regarding interest rates, with US Treasury yields and the US dollar experiencing gains.
The positive labor market data raises questions about the Federal Reserve's monetary policy trajectory and could potentially impact asset performance.
Gold prices have remained resilient, while the US dollar has rallied.
Market participants will closely monitor upcoming data releases to assess the sustainability of the current labor market strength and its implications for monetary policy.