29 days ago • Posted by Ajmir Omid
US job market looks resilient #jobs #markets #trading
US jobs data just came in and data point to a resilient labour market. Payrolls are just a tad above forecast, the participation rate rising in the right direction, and the average hourly earnings are a tad weaker. Overall, this is looking not so bad for the Fed. This is just the kind of expansion the Fed would like; job gains are strong, and they are pulling people off of the sidelines back into the labour market. Nonetheless, the unexpected rise in the unemployment rate suggests, the Fed could become more cautious about future rate hikes, which is positive support for the euro.