Forex news for US trading on October 2, 2015
– Preview: 17 expectations for NFP data today
– Kocherlakota: Fed should not have financial stability as mandate
US employment statistics for the month of September were released today and they disappointed. Non Farm Payroll showed an increase of 142K jobs vs. expectations of 200K. Thank goodness for 24K increase in state government employees or the number would have been worse. The prior months were revised down a combined -59K. Yuck. The Unemployment rates stayed steady at 5.1% thanks to a decline in the participation rate to 62.4% from 62.6%. The hourly wages came in at 0.0% and 2.2% YoY. They were expecting +0.2% and 2.4%. Not good. The average workweek fell to 34.5 hours from 34.6 hours. Surely, the dollar got hammered? Well a little but not a lot.