US jobs report to show resilience in the wake of Iran war

Bloomberg says the US labor market is showing resilience despite an energy shock from the Iran war, with April payrolls forecast to rise about 62,000, wages accelerating and participation edging up. That strength should limit downside for equities even as higher oil prices raise inflation risks and keep central banks focused on price pressures. Investors will monitor Fed speeches and a string of global data and policy decisions — including a possible RBA hike to 4.35% — for clues on policy direction. Elevated crude is also set to narrow Canada’s trade deficit but is unlikely to spur large energy-sector hiring. Overall, the piece frames a mixed outlook for markets: support from steady jobs data versus renewed inflation-driven policy uncertainty tied to oil.