Strong nonfarm payrolls could put Fed’s interest rates on hold in 2020
Stronger than expected nonfarm payrolls pushed US dollar against all currencies. Unexpected 266,000 change of employed vs 186,000 expected and 160,000 anticipated in November made US dollar surge to 1.1070 vs Euro (EUR) and 108.900 to Japanese yen (JPY). Gold dumped by 0.6% to $1467 an ounce just after labor market data were released.
Average hourly earnings were also above expectation at 3.1% year-on-year in November.
US Bureau of Labor Statistics also revised October nonfarm payrolls up to 156,000 from 128,000.