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US Non Farm payrolls rise by 227k but USD/JPY falls
The eagerly awaited US November jobs report has just this minute been released. As noted earlier, the markets were anticipating a rebound in US payrolls of around 220k. The actual number is gain of 227k. The underlying rate of unemployment has increased slightly, to 4.2% from 4.1%. Wages are higher thnn forecast though. Ahead of the release the USD/JPY had been edging back down, towards 150.35, from an earlier session high, at 150.70. That was because US yields were edging towards session lows then, at 4.168% in the 10 year note. The reaction to this data has seen the USD/JPY fall back to just below 150.25. It seems the markets were no so impressed by this report.
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Gold rises above technical resistance to set a new record high this afternoon
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