US: Solid jobs report for August - TDS
|August was a solid jobs report from the US with some unusual details as Nonfarm payrolls beat expectations but net revisions were negative, explains the research team at TD Securities.
Key Quotes
“Unemployment held steady at 3.9% but the labor force cratered.”
“Wages popped 0.4% m/m for a 2.9% y/y growth rate, but similar jumps in the recent past have been revised away.”
“Looking past the noise, we expect this report to be plenty good to keep the Fed on track for rate increases in September and December, with additional hikes in 2019.”
“FX: A firm report should help the USD remain firm, though fresh catalysts are needed to drive meaningful gains from here on a broad basis. Given that trade anxiety persists, we think USD gains should be most prominent against the dollar bloc currencies.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.