💲 NFP report slightly misses expectations, mixed reaction 📊

1:37 PM 4 September 2020

Long-awaited US NFP report for August has been released at 1:30 pm BST. Report showed a small headline miss but given lacklustre ADP reading on Wednesday, it can be considered a beat. Below there a key takeaways from the report:

Employment change: 1317k vs 1400k expected
Unemployment rate: 8.4% vs 9.8% expected
Wage growth: 4.7% YoY vs 4.5% YoY expected

Report confirmed that recovery in the US labour market moderated. A steep drop in unemployment rate is somewhat puzzling. USD, gold and stock market indices jumped in a knee-jerk move. However, gains on gold and USD were quickly erased while equities seesawed.

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Source: xStation5

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