US Nonfarm Payrolls rise by 263,000 in September

Nonfarm Payrolls in the US rose by 263,000 in September, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading followed August’s increase of 315,000 and came in better than the market expectation of 250,000.

Further details of the report revealed that the Unemployment Rate declined to 3.5% from 3.7% with the Labor Force Participation Rate edging lower to 62.3% from 62.4.

Finally, wage inflation, as measured by the Average Hourly Earnings, fell to 5% on a yearly basis from 5.2%.

The EUR/USD fell from 0.9790 to 0.9750 reaching the lowest level in a week following the release of the US official employment report that showed numbers slightly above expectations. The greenback strengthened after the numbers.

Prior to the report, the pair was moving in the range between 0.9785 and 0.9815. It is moving away from the lows, back into the range as the initial reaction of the dollar fades.

The greenback, when tracked by the USD Index (DXY), sticks to the positive territory in the mid-112.00s in the wake of the publication of Nonfarm Payrolls for the month of September.