Better than expected data in the US: 209K jobs were gained and wages are up 0.3%, as expected.The participation rate is up to 62.9%. Wages y/y are up 2.5% y/y. All in all, this is a good report. The US dollar is stronger across the board, but after the initial rise, the greenback retreats from the very highs. Update: EUR/USD falls in the NFP aftermath – finally a meaningful correction – also related to tax talk The US was expected to report a gain of 183K jobs in July after 222K in June (before revisions). Wages were expected to rise 0.3% after 0.2% and they remain key. See the preview: Trading the NFP with EUR/USD – 3 scenarios for wages. The US dollar remained on the back foot ahead of the publication July 2017 NFP Data (updated) Non-Farm Payrolls: 209K (exp. +183K last 222K before revisions) Average Hourly Earnings +0.3% m/m, 2.5% y/y (exp. +0.3% m/m, 2.5% y/y, last month 0.2% m/m, 2.5% y/y) Revisions: +2K – minor(+47K last time). Participation Rate: 62.9% (62.8% last month ) Unemployment Rate: 4.3% (exp.4.3%, last month 4.4%) Private Sector: 205K (ADP showed 178K). Real Unemployment Rate (U-6): 8.6% (previous: 8.6%). Employment to population ratio: 60.2% (previous: 60%) Average workweek: 34.5 (last month: 34.5). A separate report showed that the US trade deficit remained very stable at 43.6 billion. NFP Currency Reaction EUR/USD traded around 1.1880, ticking up within the high range. There are 5 reasons for the euro to rise. The pair reacts with a drop to 1.1825 before stabilizing. GBP/USD was trading around 1.3150, still reeling from the bearish BOE decision. Cable finds itself battling with 1.31. USD/JPY flirted with 110. The yen is taking advantage of the dollar’s troubles, most notably, the White House chaos. The pair bounces from 110 to 110.50. USD/CAD was around 1.2560. The Canadian dollar corrected some of its gains. It had a jobs report of its own. The pair temporarily topped 1.26. The Canadian jobs report was OK. AUD/USD was getting closer to 0.80 as the RBA failed to keep it low. The pair slips to 0.7950. NFP Background While the Fed is set to begin reducing its balance sheet in September, high uncertainty remains about the next Fed hike. Odds for December stand at around 50-50. While the jobs market is growing nicely, wages remain stuck, and they are of high importance. Early indicators not that great: while ADP and the ISM Manufacturing PMI came out with solid numbers (as expected), the ISM Non-Manufacturing PMI badly disappointed. The services sector is large and a slide is the cause of worry. More: Don’t have pity for stubborn US dollar bulls Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD falls in the NFP aftermath – finally a Yohay Elam 4 years Better than expected data in the US: 209K jobs were gained and wages are up 0.3%, as expected.The participation rate is up to 62.9%. Wages y/y are up 2.5% y/y. All in all, this is a good report. The US dollar is stronger across the board, but after the initial rise, the greenback retreats from the very highs. Update: EUR/USD falls in the NFP aftermath - finally a meaningful correction - also related to tax talk The US was expected to report a gain of 183K jobs in July after 222K in June (before revisions). Wages were expected to rise… 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.