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July NFP surprises the markets

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
The Bureau of Labor Statistics revealed the latest jobs report for July.

According to government data, the U.S. economy created 1.763 million jobs in July. The numbers turned out better than the 1.60 million projected, but they were still significantly lower than June's 4.791 million.

The unemployment rate dropped to 10.2%, from 11.1% recorded in June, and below the consensus forecast of 10.5%. The initial impact on the financial markets was minimal, with the Dollar Index adding a modest 0.41%.

According to marketwatch.com, the U.S lost 22 million jobs during the Covid-19 pandemic. Until now, it only managed to restore approximately 9.3 million.

Sources: investing.com, marketwatch.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.