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 
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.