The
Non-Farm Payrolls report for today came out worse than expected. The market was
waiting for a reading of 226 thousand new jobs being created in the United
States for the month of August, but the number came out at 142 thousand new
jobs created. However, the unemployment rate dropped a little bit to 6.1%.
The weak
NFP report has made investors think that the Federal Reserve will not raise its
interest rates as soon as it was expected. Many analysts believe that the FED
will now take a longer time before raising its interest rates, but we must take
into consideration that the US economy is still in a sustainable expansion and
in the long run the FED will have to raise its interest rates eventually.
For now the
Dollar retraces a little bit versus its major counterparts, but this could just
be a small retracement and for next week we may see more gains on the
greenback.
Very helpful article.
ReplyDeleteI agree with the analysis, excellent point of view.
ReplyDeleteOf course, i agree with that , thanks.
ReplyDeletegreat post
ReplyDeleteNice post thanks for the information!
ReplyDeleteI agree we might see more gain from the dollar.
ReplyDeleteNice post, I like it.
ReplyDelete