US nonfarm payrolls rose 142k in September, with the jobless rate at 5.1%. August’s 173k job gain was bumped down to 136k, with July’s 245k now 223k, for a net -59k revision. Average hourly earnings were unchanged from a 0.4% increase previously (revised from 0.3%). The workweek slipped to 34.5 from 34.6. The labor force dropped 350k, with household employment down 236k. The labor force participation rate fell to 62.4% from 62.6%. Private payrolls increased only 118k (versus ADP’s +200k) with the goods sector seeing a 13k decline, with manufacturing falling 9k, while construction was up 8k. The service sector climbed 131k, supported by leisure, hospitality’s 35k gain.
EUR pairs are up across the board. EURUSD shot up to 1.1296 resistance while the next daily resistance level is at 1.1463. Nearest intraday resistance levels are at 1.1330 and 1.1388. The 50 week simple moving average is currently at 1.1405 and coincides with the upper Bollinger Bands. Gold rallied strongly at the announcement and is trading right below 1136 resistance.
Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.
Recommended Content
Editors’ Picks
AUD/USD regains the constructive outlook above the 200-day SMA
AUD/USD advanced strongly for the second session in a row, this time extending the recovery to the upper 0.6500s and shifting its focus to the weekly highs in the 0.6580-0.6585 band, an area coincident with the 100-day SMA.
EUR/USD keeps the bullish performance above 1.0700
The continuation of the sell-off in the Greenback in the wake of the FOMC gathering helped EUR/USD extend its bounce off Wednesday’s lows near 1.0650, advancing past the 1.0700 hurdle ahead of the crucial release of US NFP on Friday.
Gold stuck around $2,300 as market players lack directional conviction
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
Bitcoin price rises 5% as BlackRock anticipates a new wave of capital inflows into BTC ETFs from investors
Bitcoin (BTC) price slid to the depths of $56,552 on Wednesday as the cryptocurrency market tried to front run the Federal Open Market Committee (FOMC) meeting. The flash crash saw millions in positions get liquidated.
FOMC in the rear-view mirror – NFP eyed
The update from May’s FOMC rate announcement proved more dovish than expected, which naturally weighed on the US dollar (sending the DXY to lows of 105.44) and US yields, as well as, initially at least, underpinning major US equity indices.