U.S. employment data seem to confirm that the labor market is still hovering around its equilibrium point, Edmond de Rothschild Asset Management's Michael Nizard and Nabil Milali say in a note. Job creation is still enough to prevent the unemployment rate from rising and to continue supporting household consumption, but not enough to generate wage pressures that could lead to a further rise in inflation, they say. "We believe these statistics will provide a strong argument for the Federal Reserve's most dovish members to maintain the status quo and rule out the risk of a rate hike as early as the July meeting." Inflation figures will be decisive in settling this debate once and for all, but they believe that caution will ultimately prevail. (emese.bartha@wsj.com)