The September NFP was described as “superb” by Austan Goldsbee, head of the Chicago Fed.
He sees it as a rise in business confidence in a scenario of full employment against a backdrop of controlled inflation: it’s the “full Goldilocks”!
The dollar took advantage of the situation to extend its weekly lead: the euro continued its symmetrical fall against the greenback, losing -0.5% to 1.0975, i.e. almost -2% weekly (the $-Index gained +2.1% weekly to 102.52).
The greenback jumped +1.3% to 148.8, and +0.65% against the Swiss franc to 0.8585.
The yen once again lost ground against all currencies, -0.75% against the euro and -0.6% against the Swiss franc.
Only the Pound is holding its own against the Dollar, as its yield soared by +16pts on Friday and +20pts this week.
The US economy generated 254,000 new non-farm jobs in September, according to the Labor Department, more than 110,000 more than the market had expected.000 above market expectations, which were generally in the region of 140,000 (identical to Wednesday’s ADP report).
The unemployment rate also eased by 0.1 points to 4.1%, where economists had expected it to remain stable at 4.2%, while the labor force participation rate held steady at 62.7%, and average hourly earnings rose by 4% year-on-year.
Non-farm payrolls for the previous two months were also revised, from 89,000 to 144,000 for July and July respectively.000 to 144,000 for July and from 142,000 to 159,000 for August, giving a total revision balance of +72,000 for these two months.
There were also quite a few figures on the menu in Europe this morning, notably in France with a clear rise in production in manufacturing industry (+1.6% after -0.2% in July), as in all industry (+1.4% after +0.2%) in France, between July and August, according to Insee’s CVS-CJO data.
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