U.S. Adds More Jobs As Unemployment Back to 16 Year Low

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  • 04 Aug '17 at 11:32 am #10907
    TradersCom
    Keymaster

    [article]113[/article]

    04 Aug '17 at 4:56 pm #10908
    ThePitBoss
    Participant

    Strong report for the Fed Hawks – Bullard will find a reason not to like it. Wages as expected which saw the dollar run. 50 against yen and Euro, 70 against the pound

    04 Aug '17 at 4:57 pm #10909
    Helmholtz Watson
    Participant

    Trump liked it and was on it pretty quick…

    Donald J. Trump‏ Verified account
    @realDonaldTrump

    Excellent Jobs Numbers just released – and I have only just begun. Many job stifling regulations continue to fall. Movement back to USA!
    5:45 AM – 4 Aug 2017

    04 Aug '17 at 5:04 pm #10911
    Assistanc3
    Participant

    04 Aug '17 at 5:41 pm #10914
    Helmholtz Watson
    Participant

    USD bid – strong move there against CAD – been due after such long run

    04 Aug '17 at 5:44 pm #10915
    CautiousInvestor
    Keymaster

    ^^^ Thanks for all details on JOB#s …. The GLOOMERS & DOOMERS, metal investors, FAZ/TZA triple leverage shorters, DRYS/DCIX investors, and all others heading for bunkers are experiencing the opposite of today’s rally cry – lol 😉 🙂

    04 Aug '17 at 5:45 pm #10916
    Helmholtz Watson
    Participant

    USDCAD got momentum in a climb above yesterday’s high of 1.2618 – best level since July 19. Impressive given the Canadian jobs report was much strong +10.9K headline, unemployment rate fell to 6.3% from 6.5%; that’s the lowest since October 2008.

    Standout is 35.1K full time jobs created with a net loss of 24.3K part time.

    04 Aug '17 at 8:50 pm #10920
    Assistanc3
    Participant

    Canadian dollar got whacked on the higher trade deficit too

    04 Aug '17 at 9:01 pm #10924
    ThePitBoss
    Participant

    Good point that can get lost in all the NFP hoopla

    07 Aug '17 at 2:30 am #10953
    ThePitBoss
    Participant

    Goldman Sachs take on the NFP report:

    – Non farm payrolls reflecting broad-based growth across industries
    -Our Fed probabilities unchanged, with a cumulative probability of 60% for another hike by the December meeting
    – Solid growth in manufacturing jobs
    – Modest rise in construction employment
    – Unchanged mining and logging payrolls
    – Employment growth in private service-providing industries accelerated to a 10-month high
    – Retail employment was soft for the second month (+1k) but nonetheless remained firmer than the outright declines seen in each of the previous four months
    – The breadth of job growth was particularly encouraging
    – Broader U6 rate remained unchanged at 8.6%, as a decline in the share of workers on part-time schedules for economic reasons was partly offset by an increase in the share of marginally attached workers
    -Our Q2 wage tracker – which distills signals from several wage measures – held steady at 2.3%[/li]

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