US: Non-farm payrolls rise by 528,000 in July, far exceeding expectations

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  • Nonfarm payrolls up 528,000 vs. 250,000 expected.
  • Unemployment rates fall to 3.5% against 3.6%.
  • The dollar rises throughout the market after the data.

Figures from the US July jobs report beat expectations, giving the dollar a boost. The nonfarm payrollswhich was expected to rise by 250,000, had an increase of 528,000.

The unemployment rate it fell to 3.5%, against the expectation that it would remain at 3.6%. The labor participation rate it went from 62.2% to 62.1%.

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In regards to the income, these had a rise of 0.5% in July, higher than the 0.3% expected; they were up 5.2% from a year ago, higher than the market consensus of 4.9%.

The dollar rallied across the market following the data, bond yields rose sharply and metals fell. DXY climbed towards 106.50.

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Source: Fx Street

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