The NFP report for August has just been released. The long-awaited data surprised to the downside as the headline non-farm payrolls number showed a huge miss (235k vs expected 750k).
Non-farm payrolls in August: 235k
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Expected: 750k.
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Previous: 1053k (revised to the upside from 943k)
Unemployment rate in August: 5.2%
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Expected: 5.2%
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Previous: 5.4%
Wage growth in August: 4.3% YoY
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Expected: 4% YoY
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Previous: 4.1% YoY
How are markets reacting after the data? The US dollar plunged while gold prices spiked by roughly $15 an ounce! US equity futures are trading slightly higher ahead of the US cash session open, US100 outperforms.
EURUSD spiked after the NFP miss and the pair tested the 1.19 mark. It is worth to notice that the main currency pair jumped above the upper limit of the upward channel. Source: xStation5
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