Surprise Jobs Data Shifts Fed Rate Cut Expectations

Barclays and Goldman Sachs have revised their expectations for the U.S. Federal Reserve's next interest rate cut to July, following a robust jobs report. Previously, a June rate cut was anticipated. The April data revealed significant nonfarm payroll increases and a stable unemployment rate of 4.2%.

On Friday, Barclays and Goldman Sachs announced changes to their forecasts for the U.S. Federal Reserve's upcoming interest rate cut.

Following a stronger-than-anticipated jobs report, the financial giants now project the rate cut to occur in July, instead of the previously expected June.

The April report highlighted a substantial boost in nonfarm payrolls and an unemployment rate that remains steady at 4.2%.

(With inputs from agencies.)