NFP First Fall Since 2010
- Trade Magnates Team
- Oct 6, 2017
- 1 min read
Trade Magnates -US NFP results were negative for the first time in the last seven years as the employment registered in hospitality and leisure sector has dropped.
Unemployment rate fell to 4.2% in September, the lowest since Feb 2001 and wages growth surprised at the upside with Average Hourly Earnings showing 0.5% rise in September against forecasts for increase by 0.3% and upwards-revised figure in August to 0.2% from 0.1%.
The increase in wages had resulted in a strong impact on the US Dollars and offset negative tone from NFP's miss. After the US jobs data release, the US dollar shifted high against major currencies, while USDJPY broke above 113.20 and hit the highest since July 14 at 113.43. EURUSD hit a new seven-weeks low at 1.1670, while the GBPUSD fell to one-month low at 1.3025.