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Koefoed: Expect strong print for US job market

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Saxo's Mads Koefoed expects another strong US jobs print of around 218,000. He says the poor March figure of 85,000 was a 'blip'. 

Koefoed admits that the Q1 GDP figure was also disappointing, which reinforced the belief that the US economy was weakening. But he says it was a similar situation last year before economic activity picked up. He says there are already signs this is happening in 2015.

US unemployment is at its lowest in several years. For that reason, Mads says the Fed should have raised rates already, but the lack of inflation has prevented that. He expects a rise later this year, probably in September.