Nonfarm payroll employment figures came out at 13:30 BST today and showed an increase of 220,000 in June with the unemployment rate little changed at 4.4%. This was much better than the predicted figure of around 188,000.
Since January the unemployment rate has decreased by 0.4% with the number of unemployed falling to 658,000.
The labour force participation rate has barely changed in the calender year and todays report sees it come in at an unsurprising 62.8%.
Paul Ashworth, Chief US Economist at Capital economics stated “this report is another illustration that the real economy is in good health. The only disappointment is that wage growth still shows few signs of acceleration.”
With payroll data having an inverse correlation to the currency, investors have reacted accordingly with the USD rolling over a touch down 0.2% in the afternoon session. The Fed will be expected to remain on track for its monetarty policy stiumlus as there wasn’t enough in the jobs report to make them deviate from their strategy.