U.S. jobs report for September

• Average hourly earnings (m/m) (September), fact 0.0%, forecast 0.3%.
• Nonfarm payrolls (September), fact 136K, forecast 140K.
• Private nonfarm payrolls (Sept), fact 114K, forecast 133K.
• Trade balance (Aug), fact -54.90B, forecast -54.50B.
• Unemployment rate (September), fact 3.5%, forecast 3.7%.

The US employment report for September turned out to be more negative due to a slowdown in job growth and higher wages. But negative data blocked the decline in unemployment to a historic low. This provided a support to the US dollar.

Fig. 1. US unemployment rate chart

The ambiguity of the US employment report is likely to save uncertainty about the US economy. This means a moderate strengthening of the American dollar against major competitors. But it is also worth noting that maximum employment will indicate the strength of the US labor market. As a result, a restrained movement in the side channel from 99.00-10 to 98.70-60 is expected from the American currency.

Fig. 2. The US dollar index chart. Current price – 98.90 (10-year US government bonds yield – blue line)

Read also: “Escalation of the US – China trade war
 and what it means for the market?”

Hanzenko Anton

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