The official non-farm employment change showed that only 241 thousand new jobs were created in October, falling short of 21 thousand jobs economists predicted and worse than the 256 thousand new job openings in September. This is somewhat of a surprise considering the ADP data was good and it beat estimates.
The unemployment rate fell to 5.8%, an improvement from the 5.9% in September. Bloomberg mentions that the jobless rate is at a 6 year low.
More good news for those who kept on to their EUR/USD short or USD/JPY long positions. The strength in the US economy is a catalyst of the dollar not ending its bull run yet.
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