August 4, 2017 1:59:24 PM EST
by NewsmovesmarketsForex Staff Writer
United States Labor force and income growth appears to be holding its own as Non-Farm Payroll report came in like a champ beating expectations for the second consecutive month in a row!
- The Bureau of Labor Statistics reports that the economy added 209,000 new Jobs for the month of July 2017, beating expectation by a total of 24k, projected forecast was 183,000 jobs.
- Private Nonfarm Payrolls came in 205,000 for the month of July 2017, beating expectation by 11,000 news jobs. NFP numbers also came in stellar for the month of June 2017, adding a robust 277,000 new jobs to the American Economy.
- Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.
- The unemployment rate dipped to an upbeat rate of 4.3% for the month of July 2017, while the annual wage growth remains at a rate of 2.3%.
***Forex Market Trading News***
- EurUsd retreats on Fridays August 4, 2017 NFP report results from a high of 1.1884 to a low of 1.1727 and close the Forex trading day at spot 1.172.
- CadUsd rallies on Fridays August 4, 2017 NFP news from a low of 1.2553 to a high of spot 1.26668 and close the Forex trading day at spot 1.2649.
- UsdJpy rallies on Fridays August 4, 2017 NFP news from a low of 109.842 to a high of spot 111.042 and close the Forex trading day at spot 110.66.
- GbpUsd retreats on Fridays August 4, 2017 NFP report results from a high of 1.31634 to a low of 1.30232 and close the Forex trading day at spot 1.172.
