What to expect in the future after worse NFP data

06.10.2017 / 16:24

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The number of US workers dropped for the first time in 10 years, reflecting the devastation of Hurricane Harvey and Irma. On the other hand, the unemployment rate also fell to a record 4.2% and average hourly wage increased by 0.5%.

Hurricanes have a noticeable effect on the September spoons, but do not have a strong impact on national unemployment. The figures reflect Harvey's impact on Texas and Irma on Florida. Expectations of market participants are that hurricanes continue to affect economic data over the next few months.

Currently, the exact impact of hurricanes is difficult to determine, but the next data on Non Farm Payrolls will give a clear picture of the labor market where we expect a greater impact on markets. Negative data on new jobs will also influence the Fed's decision on the next change in interest rates.

Source: Bloomberg Pro Terminal

Jr Trader Petar Milanov

Varchev Traders

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What to expect in the future after worse NFP data

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