James Trescothick

With more than 20 years of experience in financial service industry, James is our Senior Global Strategist and the co-producer and presenter of easyMarkets educational videos. When he is not working on educational programs or preparing webinars, you can find him with the easyMarkets team giving seminars around the world.

After the shocking NFP number released back in October which came in at -33K, there was expectation that Novembers Non-Farm Payroll would show a strong come back with a forecast of 310,000 new jobs created.  However, though there was a bounce back the final number wasn’t quite as strong as the NFP came in at 261k new jobs.

The Average hourly earnings also missed its forecast of 2.7%, instead coming in at 2.4%.

However, US unemployment came in at 4.1%, which beat the expectations of 4.2%.

 


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With talk of the Fed raising interest rates once again in December, there was a lot of anticipation that a strong job figure would add more fuel to the fire that the FOMC will indeed act.  Though this slightly disappointing NFP number doesn’t completely rule that out from happening, on the initial announcement it did bring in the USD bears into the market.  However, at the time of writing the market has returned pretty much to the levels it was trading before the final number was released.

At the time of writing, the EUR/USD is trading at 1.1654, USD/JPY 114.02 and Gold is at $1277.15.

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