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Nonfarm Payrolls (NFP) in the US rose by 1.8 million in July, the data published by the US Bureau of Labor Statistics showed on Friday. This reading beat the market expectation of 1.6 million by a small margin and followed June’s print of 4,791,000.

Further details of the publication revealed that the Unemployment Rate fell to 10.2% to come in better than analysts’ estimate of 10.2. Additionally, the Labor Force Participation Rate ticked down to 61.4% and the Average Hourly Earnings edged lower from 4.9% to 4.8% on a yearly basis.

Follow our live coverage of the NFP report and the market reaction. 

Market reaction

The US Dollar Index showed a muted reaction to the data and was last seen gaining 0.45% on the day at 93.19. Meanwhile, The S&P 500 futures continued to erase daily losses and were last down only 0.15% on a daily basis.

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