Payrolls number disappoints Wall Street could be the headline for today’s trading session. The always volatile number came in at 214K against expectations of a 233K. The rate of unemployment fell to 5.8% versus market expectations of 5.9%.
The numbers for September were adjusted upwards to 256K from 248K. Also, the August numbers were kicked up as well going from 180K to 203K.
As always, the data unleashed a round of furious price action across the currency markets, and by default, the gold market. Most are seeing the numbers as having a bit of something for all sides.
Those reacting to the headline number registered their disappointment by selling the Dollar, especially in favor of the Euro.
This post was published at Trader Dan Norcini on Friday, November 7, 2014.
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