Lower than expected data in the US: only 156K jobs were gained and wages went up by 0.1%, lower than expected on both fronts.The participation rate was unchanged at 62.9%. Wages y/y are still at an annual pace of 2.5%. Overall, not a great report on both wages and headline job growth. The US dollar is reacting to this news as its slides against the majors including the Euro and Yen — the dollar weakness returns. Following the immediate reaction, however, the selloff of the USD has eased down and is leveling off against the Euro and Yen. Expectations: The US was expected to report a gain of around 180K jobs in August after 209K in July (before revisions). Wages were expected to rise 0.2% after 0.3% and they remain key. This jobs report has all the ingredients of providing action. See: Why this NFP could be very volatile – 5 reasons August 2017 NFP Data (updated) Non-Farm Payrolls: 156K (exp. +180K last 209K before revisions) Average Hourly Earnings 0.1% (exp. +0.2% m/m, last month 0.3% m/m, 2.5% y/y) Revisions: -41K(+2K last time). Participation Rate: 62.9% (62.9% last month ) Unemployment Rate: TBA (exp.4.3%, last month 4.3%) Private Sector: 77K (ADP showed 237K). Real Unemployment Rate (U-6): 8.6%(previous: 8.6%). Employment to population ratio: 60.1% (previous: 60.2%) Average workweek: 34.4 (last month: 34.5). NFP Currency Reaction The US dollar began the week on the back foot, with a deep dive of USD/JPY and EUR/USD breaking above 1.20. However, the greenback made a comeback, partially thanks to a robust GDP read of 3%. But following this recent NFP report the immediate reaction was a drop in the USD across the board. EUR/USD is ticking up to around 1.19290 following the news — a gain of less than 0.2%; GBP/USD is trading around 1.2978 withing minutes after the report came out — the pound is also benefiting from the weak jobs report; USD/JPY is nearing the 110 mark. . USD/CAD is around 1.2360 — a big leg up for the CAD against the USD — nearly 1% — as a reaction to this news. AUD/USD is getting closer to 0.80. NFP Background We only had one early indicator, the ADP report, and it was certainly positive. The firm reported a gain of 237K private sector jobs in August, better than expected and accompanied with an upwards revision. The ISM PMIs are released only after the NFP, which is released early in the month. This Non-Farm Payrolls report will not change the direction of the Fed for September. Yellen and co. are expected to begin reducing their balance sheet. What about rate hikes? The data feeds into the next decision, but that is set to take place only in December. More: The EU is treating the UK like Greece – 5 worrying similarities Felipe Erazo Felipe Erazo Felipe earned a degree in journalism at the University of Chile with the highest honor in the overall ranking, and he also holds a Bachelor of Arts in Social Communication. He has been working as a freelance writer and forex/crypto analyst, with experience gained at several forex broker firms and forex/crypto-related media outlets around the world, such as FXStreet. He has been involved in the world of online forex trading since 2010, and in the crypto sphere since 2015. Moreover, Felipe has worked as a journalist and editor for several media outlets across Latin America, collaborating with radio stations from his home country, Colombia, Chile, and the United States. View All Post By Felipe Erazo Forex News Today: Daily Trading News share Read Next Forex Weekly Outlook – Sep. 4-8 2017 Yohay Elam 4 years Lower than expected data in the US: only 156K jobs were gained and wages went up by 0.1%, lower than expected on both fronts.The participation rate was unchanged at 62.9%. Wages y/y are still at an annual pace of 2.5%. Overall, not a great report on both wages and headline job growth. The US dollar is reacting to this news as its slides against the majors including the Euro and Yen -- the dollar weakness returns. Following the immediate reaction, however, the selloff of the USD has eased down and is leveling off against the Euro and Yen. Expectations:… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.