Breaking: US Nonfarm Payrolls rise by 263,000 in September vs. 250,000 expected

FXStreet Team FXStreet

Nonfarm Payrolls in the US rose by 263,000 in September, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading followed August's increase of 315,000 and came in better than the market expectation of 250,000.

Further details of the report revealed that the Unemployment Rate declined to 3.5% from 3.7% with the Labor Force Participation Rate edging lower to 62.3% from 62.4.

Finally, wage inflation, as measured by the Average Hourly Earnings, fell to 5% on a yearly basis from 5.2%.

Follow our live coverage of market reaction to the US jobs report.

Market reaction

The US Dollar Index gained traction with the initial reaction to the US jobs report and was last seen rising 0.15% on the day at 112.42.

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FXStreet Team

FXStreet

EUR/USD looks weak below 1.1800

EUR/USD has slipped back under pressure, breaking through the 1.1800 support and drifting towards the weekly lows near 1.1770 ahead of the opening bell in Asia. The move reflects renewed strength in the US Dollar, with steady geopolitical tensions keeping its demand firm. Moving forward, the release of the German labour market report and flash inflation figures should keep European investors entertained on Friday.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold trims gains, slips back to around $5,170

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The yellow metal surrenders part of its earlier gains on the back of the resurgence of the buying interest in the Greenback. In the meantime, geopolitical tensions in the Middle East continue to limit the downside potential for now.