President Obama has got to have a smile on that poker face of his, especially after a ho-hum showing at the debate this week. Non-farm payrolls are coming up trumps and in favor of his administration, more so now than a couple of months ago.
The US unemployment rate has fallen (+7.8%) to its lowest level since his inauguration as the economy continues to add jobs. A sign of steadier economic growth may help the Presidents campaign to win a second term in office. US payrolls increased by a seasonally adjusted +114k jobs in September, despite being below the general forecast by -4k, the previous two months were revised higher by a collective +86k jobs.
Fridayâ€™s print is also the next-to-last snapshot of the US labour market before Novemberâ€™s election. The October release comes out only a few days before voters go to the polls; possibly too late to sway voterâ€™s minds. For now, the pro risk trade does not favor long dollar positions. Let’s see what happens after the long weekend!
- 5 things to watch for Fedâ€™s Sept Minutes | OANDA Forex Blog
- Banks biggest winners after QE3 | OANDA Forex Blog
- Wow-NFP UE at +7.8% | OANDA Forex Blog
- Fire in US Largest Refinery push Crude and Gasoline Prices higher | OANDA Forex Blog
- Economy wonâ€™t plunge over the fiscal cliff â€“ Analysts Consensus | OANDA Forex Blog
- It Appears the Fed Easing Has Had Little Impact So Far | OANDA Forex Blog
- Weak Data sees Canada Dollar Fall to 1-Month Low | OANDA Forex Blog
- Bernanke Defends Fed MBS buy-back Program | OANDA Forex Blog
- US Manufacturing Expands in September | OANDA Forex Blog
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