The Non-Farm Payroll, which comes out first Friday of each month looks at the jobs data in the previous month from the private sector. August posted a flat 0 - no growth, failing forecast of 74K. July's was also revised down from 117K to 85K. The poor data invites risk aversion and higher prospect of QE3. USD crosses were schizophrenic. CAD-weakness held tighter, but eventually pared. CHF strength also pared after initially extending after the release. Gold shows bullish continuation breaking out of this week's consolidation.
Join the Discussion