A very strong US jobs report: A gain of 271K. Wages grew at a faster rate. It’s mostly positive albeit with little upward revisions — an upside of 12K. The unemployment rate slid to 5%. Participation is at 62.4% — unchanged. Y/y wages are at 2.5% — the fastest pace since July 2009. USD is heavily bought as this is a strong report on many fronts. EUR/USD falls by more than 120 pips. The jobs report for October was expected to show a gain of around 180K, a drop of the unemployment rate to 5% and a rise of 0.2% in wages m/m. Data (updated) Non-Farm Payrolls: 271K (exp. +180K, previously 142K before revisions) Participation Rate: 62.4%(62.4% last month ) Unemployment Rate: 5% (exp.5%, last month 5.1% before revisions) Revisions: +12K (-59K last month) Average Hourly Earnings: +0.4% m/m and 2.5% y/y(exp. +0.2% m/m, last month 0.2% m/m, 2.2% y/y) Private Sector: TBA (ADP showed +182K). Real Unemployment Rate (U-6): 9.8% (previous: 10%). Employment to population ratio: 59.3% (previous: 59.2%) Average workweek: 34.5 (last month: 34.5). Analysis and currency reaction (updated) It’s important to note that the euro and the yen sharply fall against the USD; GBP and commodity currencies also trade down. EUR/USD traded at 1.08634. And the pair is currently trading around 1.0713 following this news. This pair could keep sliding as this report prompts purchases of the USD. GBP/USD trades close to 1.5043. USD/JPY pair is up around 122.77 — a gain of close to 200 pips for the day. USD/CAD trades around 1.3265. This report brings the Federal Reserve a bit closer towards raising its cash rate in the December meeting, which could further boost the greenback. The higher growth in wages, strong gain in jobs, and modest fall in unemployment could suggest the labor market is ready for a Fed rate hike. Background Predictions were high for a recovery this month after two weak ones. The expectations were fueled by an OK ADP figure and also a blockbuster ISM Non-Manufacturing PMI with a strong employment component. Also according to recent Fed musings, one could have expected for a positive outcome. However, there was no certainty. Preview: Trading the NFP with EUR/USD 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 Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. Forex News share Read Next Forex Weekly Outlook Nov. 9-13 Anat Dror 6 years A very strong US jobs report: A gain of 271K. Wages grew at a faster rate. It's mostly positive albeit with little upward revisions -- an upside of 12K. The unemployment rate slid to 5%. Participation is at 62.4% -- unchanged. Y/y wages are at 2.5% -- the fastest pace since July 2009. USD is heavily bought as this is a strong report on many fronts. EUR/USD falls by more than 120 pips. The jobs report for October was expected to show a gain of around 180K, a drop of the unemployment rate to 5% and a rise of… 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.