U.S. employment data

• Average hourly earnings (m/m) (oct), fact 0.2%, forecast 0.2%.
• Nonfarm payrolls (October), fact 250K, forecast 193K.
• Private nonfarm payrolls (October), fact 246K, forecast 183K.
• Trade balance (September), fact -54.00B, forecast -53.50B.
• Unemployment rate (Oct), fact 3.7%, fact 3.7%.

The US employment report for October was very positive, which is confirmed by data on the number of people employed in the nonfarm sector, which continues to grow at a very significant pace.

Fig. 1. A graph of the number of people employed in the US nonfarm sector

 

Fears are caused by the persistence of the US trade balance deficit, which, against the background of US elections, may cause an increase in political risks.

The US dollar index reacted with a moderate growth to positive employment data, which was caused by continued pressure. But against the background of this statistic, we can expect a test of resistance levels: 96.50 and 96.70-80 from the US dollar index versus the basket of competitors.

Fig. 2. The US dollar index chart. The current price is 96.30 (10-year government bonds yield is the blue line)

Read also: “Stock Indices: the UK Market”

Hanzenko Anton

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