Non-Farm Payrolls beats with 222K, wages miss with 0.2%

The US economy gained no less than 222K jobs in June, better than expected. However, wages rise by only 0.2% and with a downwards revision.

The US dollar initiall rose but is now falling

more coming

The US was expected to report a gain of around 180K jobs in June, with an unemployment rate of 4.3%. More importantly, wages carried expectations of 0.3% m/m after 0.2% last time. Y/y, wages rose by 2.5%, stuck.

NFP Preview: jobs distraction could be an opportunity to trade the wage data[1]

— more coming

June 2017 NFP Data (updated)

  • Non-Farm Payrolls:  TBA  (exp. +175K last 138K[2] before revisions)
  • Average Hourly Earnings TBA (exp. +0.3% m/m, 2.6% y/y, last month 0.2% m/m, 2.5% y/y)
  • Revisions: TBA (-66K  last time).
  • Participation Rate: TBA (62.7% last month )
  • Unemployment Rate: TBA (exp.4.3%, last month 4.3%)
  • Private Sector: TBA (ADP showed 158K[3]).
  • Real Unemployment Rate (U-6): TBA (previous: 8.6%).
  • Employment to population ratio: TBA (previous: 60%)
  • Average workweek: TBA (last month: 34.4).

NFP Currency Reaction

NFP Background

Indicators leading into the event were mixed: while soft data such as the ISM surveys were upbeat, ADP data was weak and all in all, inflation is weaker.

The Fed minutes showed a split board about the reduction of the balance sheet[7].

Get the 5 most predictable currency pairs[8]

from Forex Crunch http://feedproxy.google.com/~r/ForexCrunch/~3/hodT-IheWlg/

from Online Forex Trading Resource
View thesource article here

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