The October employment report showed an increase in nonfarm payrolls of 638,000, above the market consensus of 600,000 and just shy of September’s 672,000 (revised from 661,000).
The unemployment rate posted a much larger than expected drop from 7.9% to 6.9%, against the expectation of a 7.7% reading. The labor participation rate rose from 61.4% to 61.7%.
The dollar it rose modestly after the data was released. The focus is also on political issues with the vote counting.
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Credits: Forex Street
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