#USNFPExceededExpectations The US economy has added 178000 jobs in March the Labor department reported Friday blowing past Wall Street expectation of 59000 and reversing February's revised net loss of 133000.

A convincing beat on nonfarm payrolls is the kind of numbers that would normally send equities surging and rate cut bets collapsing. With Us market closed with good Friday, traders will have to sit with it until Sunday night future open.

Traders and economists expect the NFP report to show that the US created 65K net new jobs, with average hourly earnings rising 0.3% m/m (3.8% y/y) and the U3 unemployment rate at 4.4%.

In any event traders are expecting an extension of the" low hire, low fire" regime that has characterized the past year and so on in this month job report .