The US Bureau of Labor Statistics showed that non-farm employment in April increased by 263,000 to beat the market expectation of 185,000 by a wide margin. The unemployment rate came in at 3.6 percent, the lowest level since December 1969, while average hourly earnings rose by 0.2 percent in April, just below the expectation of 0.3 percent.
The euro was trading lower this morning despite the eurozone CPI flash estimate improving to 1.7% in April, up from 1.4% a month earlier, and the core release climbing to 1.2%, compared to 0.8% in March, beating the market expectation. The euro was last seen trading at 1.1160 against the greenback.
British Prime Minister Theresa May reiterated that the best way to deliver Brexit was to leave the EU with a deal and stated that she disagreed profoundly with those who want a second referendum. May further stated that the elections were very difficult for their party and the country had to get on with the delayed process of leaving the European Union.