The US economy gained 156K jobs in September, slightly lower than 171K expected but probably over the low bar needed for a December hike. The unemployment rate is up to 5%, also slightly worse than predicted but on top of a rise in the participation rate to 62.9%. Wages are OK with 0.2% m/m, 2.6% y/y as expected. The details of the report are mostly positive. The USD is initially lower. Will it eventually emerge as a winner? Analysis: Sep NFP: The Trend Still Solid; Fed To Hike In December – BofA Merrill Sep NFP: Not The ‘Smoking Gun’ For A Dec Hike; We Still See The Fed On Hold This Year – Danske The US was expected to report a gain of 170K jobs in September. Wages were predicted to advance 0.2% m/m and 2.6% y/y. Preview: trading the NFP with EUR/USD. The US dollar was looking good ahead of the publication, especially against the collapsing British pound. September NFP Data Non-Farm Payrolls: 156K (exp. +170K, last 151K before revisions) Average Hourly Earnings 0.2% m/m, 2.6% y/y (exp. +0.2% m/m, last month +0.1% m/m, 2.4% y/y) Revisions: -7K in total August revised up to 167K, July to 252K .(-1K last time) Participation Rate: 62.9% (62.8% last month ) Unemployment Rate: 5% (exp.4.9%, last month 4.9% before revisions) Private Sector: 136K (ADP showed 154). Real Unemployment Rate (U-6): 9,7% (previous: 9.7%). Employment to population ratio: 59.8% (previous: 59.7%) Average workweek: 34.4 (last month: 34.3). NFP Currency Reaction EUR/USD traded around 1.1140, suffering some collateral damage from the weakness of the pound and ignoring the “taper-talk“. Reaction: a rise to 1.1170 only results in a fall to lower ground at 1.1130. GBP/USD was around 1.2350, still trying to stabilize after the huge flash crash. A recovery attempt fails. USD/JPY traded around 103.60. On one hand, USD strength supports the pair. On the other hand, JPY is a safe haven currency. USD/JPY ticks higher to 103.70. USD/CAD traded around 1.3270, unable to capitalize on the rise in oil prices following the OPEC agreement. Dollar/CAD is lower at 1.3210 thanks to a superb Canadian jobs report. AUD/USD traded around 0.7580, succumbing the greenback’s advance. The pair erases the initial rise. NZD/USD was around 0.7140, extending its falls. Currently holds its ground. NFP Background After the latest rate decision, the bar for raising rates is lower. A smaller gain of 150K and continued OK wage growth will probably be enough for raising the rates in December, assuming a Clinton victory over Trump. The US dollar enjoyed strong momentum coming into the event. The GBP flash crash stole part of the show. 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 USD/CAD crashes after excellent Canadian jobs report Yohay Elam 6 years The US economy gained 156K jobs in September, slightly lower than 171K expected but probably over the low bar needed for a December hike. The unemployment rate is up to 5%, also slightly worse than predicted but on top of a rise in the participation rate to 62.9%. Wages are OK with 0.2% m/m, 2.6% y/y as expected. The details of the report are mostly positive. The USD is initially lower. Will it eventually emerge as a winner? Analysis: Sep NFP: The Trend Still Solid; Fed To Hike In December - BofA Merrill Sep NFP: Not The 'Smoking Gun' For… Regulated 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.