Breaking: US Nonfarm Payrolls rise by 531,000 in October, dollar holds its ground

FXStreet Team FXStreet

Nonfarm Payrolls (NFP) in the US rose by 531,000 in October, the data published by the US Bureau of Labor Statistics showed on Friday. This reading came in better than the market expectation of 425,000. Additionally, September's print got revised higher to 312,000 from 194,000.

Further details of the publication revealed that the Unemployment Rate declined to 4.6% from 4.8% in September, compared to analysts' estimate of 4.7%. Additionally, the Labor Force Participation Rate remained unchanged at 61.6% and the wage inflation, as measured by the Average Hourly Earnings, rose 4.9% on a yearly basis vs 4.6% in September.

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

Market reaction

With the initial reaction, the greenback continues to outperform its rivals and the US Dollar Index was last seen rising 0.3% on the day at 94.60.

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