Private sector employment change improved during July, rising to 163K after June's 64K, which was revised lower from 80K.

The Unemployment rate meanwhile edged up to 8.3% in July from 8.2% in June.

Interestingly enough, this is the best NFP figure in 5 months, and the worst unemployment data in 5 months.

It was not like there was a jump in participation rate.

"Both the civilian labor force participation rate, at 63.7 percent, and the employment- population ratio, at 58.4 percent, changed little in July..."

Source: Bureau of Labor Statistcs

Here is a look at some historic data of the NFP going back to July 2011:


Source: Tradingeconomics

The reaction in the currency market was mainly JPY-weakness across the board.

By 9:05AM EDT,

USD/JPY rallied sharply from 78.20 to 78.80
EUR/JPY rallied from 95.80 to 96.60
GBP/JPY pushed up from 121.70 to 122.45
AUD/JPY jumped from 82.25 to 82.90
CAD/JPY popped up from 78.00 to 78.75

Fan Yang CMT is a forex trader, analyst, educator and Chief Technical Strategist for FXTimes - provider of Forex News, Analysis, Education, Videos, Charts, and other trading resources.

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