1:30 PM · 4 October 2024

BREAKING: Massive NFP increase. EURUSD dipped below 1.10

  • Change in Non-farm Payrolls: 254k (expected: 150k; previous: 142k)
  • Change in Private Payrolls: 223k (expected: 125k; previous: 118k)
  • Two month-revision: 72k (previous: -82k)
  • Change in Manufacturing Payrolls: -7k (expected: -8k; previous: -24k)
  • Unemployment rate: 4.1% (expected: 4.2%; previous: 4.2%)
  • Average Hourly Earnings: 4.0% (expected: 3.8% YoY; previous: 3.8% YoY)
  • Average Hourly Earnings monthly change: 0.4% (expected: 0.3% MoM; previous: 0.3% MoM)

EURUSD has dipped below 1.10 after the release as US adds more than 200k jobs, first time since June and is the highest since May. Before the release, market was pricing about 33% probability of Fed lowering rates by 50 basis points. With such a big surprise, a chance for the bigger rate cut is rather pretty low. 

 

 

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