What do the latest US nonfarm payrolls data mean ahead of Wednesday’s FOMC meeting? Saxo Bank’s head of FX strategy John Hardy explains.

The nonfarm payrolls figure was +235k against expectations for +200k while January’s Average Hourly Earnings revised from 2.5% y/y rate to 2.8%, with the same figure for February.

Hardy also looks ahead to next week with the March 15 meeting of the US Federal Reserve.