As has become the norm, the US economy posted strong jobs gains in July, bringing unemployment down to 4.3% and lifting participation in the process. Still, the report didn’t tick every box and likely does little to influence the Fed’s interest rate decision making.
Senior Market Analyst Craig Erlam discusses why he believes the latest labor market figures don’t change anything and what he believes may be responsible for the strong dollar rally since the release.
He also gives his follow up analysis on EURUSD (1:46), GBPUSD (3:49), USDJPY (4:36), NZDUSD (5:28), AUDUSD (7:24) and USDCAD (7:53).
US Jobs Report Fails to Deliver Knockout Blow
Gold Slides as Nonfarm Payrolls Beats Forecast
July: Non-farm payroll (NFP) and CAD Employment Result
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.
Craig Erlam
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