The dollar is strong this morning after the release of Non-Farm Payrolls. The report showed that the US economy added 136,000 jobs in September, slightly fewer than expected, but not the disaster anticipated after poor data earlier in the week. Non-Farm Payrolls for August were also revised up, coming in at 168,000 compared to the 130,000 that was previously reported.
In another positive release, US unemployment fell to 3.5% in September, the lowest it has been in 50 years. This data decreased expectations of another interest rate cut from the Federal Reserve, although the probability still stands at 76%.
Later today, Chairman of the Federal Reserve, Jerome Powell will give a speech, possibly giving further indication on the Fed’s current stance. This week, we’ll see the FOMC minutes on Wednesday and inflation rate figures on Thursday.
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