Technical Analysis

US nonfarm payroll 517K vs 185K estimate. Unemployment rate 3.4% vs 3.5% estimate

Nonfarm payroll rises by 517 K

A huge beat that may have some seasonality issues, but it is impressive with gains and revisions well above expectations. The average gain in 2022 was 401K

Job growth was widespread, led by gains in leisure and hospitality, professional and
business services, and health care. Employment also increased in government, partially
reflecting the return of workers from a strike.

The dollar is moving higher.

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