US Non-Farm Payrolls for the month of September came out at 148K which was less than expected.
News across the web showed that the market was expecting a gain of around 180k jobs. This number seems realistic after August numbers came out at 169k for the month of August.
Looking at the unemployment rate, it came at a lower number of 7.2% . The numbers were expected to remain unchanged at 7.3%. We know that the political fiasco in Washington caused the data to be released 18 days late but with the NFP coming out weaker, it made the whole situation look worse.
Looking at the figures again, I can’t say that the numbers will cause a terrible calamity. It is still within a range that shows that the economy in the US is still growing steadily. Having said that, we should not overlook the fact that risk currencies like the euro, pound and aussie is winning some ground against the US dollar.
Lets continue to observe how far the US dollar will fall from this.