US Employment report on 06.04.2018

  • prior 313K, revised to 326K
  • Unemployment rate 4.1% vs 4.0% exp, prior 4.1%
  • Average Hourly Earnings MoM 0.3% vs 0.3% exp, prior 0.1%
  • Labour force participation rate 62.9% vs 63.6% exp, prior 63.0%
  • Private NFP 102K vs 190K exp, prior 287K, revised to 320K
  • Manufacturing payrolls 22.0K vs 20K exp, prior 31K, revised to 32K
  • Government payrolls 1.0K vs 26.0K prior, revised to 6.0K
  • Average weekly hours 34.5vs 34.5 exp, prior 34.5
  • U6 Unemployment rate 8.0% vs 8.2% prior

Bit of a blow here on the headline but USD just hanging in there thanks to the earnings and positive revisions to the prior report.  Cautious for now as China starting to talk same time about Trump’s proposals on the Tariffs

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