NFP

US Non-Farm Payrolls (Feb) ACTUAL -63,000 Expected 25,000 Previous -17,000Unemployment Rate (Feb) Actaul 4.8% Expected 5% Previous 4.9%Quick ViewThis all important data came out worse than expected which adds weight to those who think the US is already in recession. At face value this is likely to weigh on the base metals and equities, but with expectations running high that the Fed will cut interest rates by up to 75bp the markets might washout the bad news and look forward to bigger rate cuts and possibily even an emergency rate cut. If so then the markets may rise on this data.