09/04/2016 - Jobs Miss Likely Precludes September Fed Rate Hike

* Fundamental Recap: Jobs Miss Likely Precludes September Fed Rate Hike
* Market Movers: Weekly Technical Outlook
* Look Ahead: Stocks
* Look Ahead: Commodities

The US employment situation, along with the probability of a Fed rate hike in September, took a downturn on Friday when non-farm payrolls (NFP) data released by the US Labor Department showed that a relatively disappointing 151,000 jobs were added in August against previous consensus expectations of around 180,000. This substantial miss in employment data follows two stellar months of much better-than-expected readings, and significantly trails the average monthly gain of 204,000 jobs over the prior 12 months. Friday's data continues a trend of the past five years in which August jobs data has disappointed expectations each and every year.

Also disappointing were two other primary data points released concurrently - average hourly earnings and the unemployment rate for August. Perhaps of greatest concern from the Fed's perspective was the fact that the increase in average hourly earnings was down to only +0.1% against prior expectations of +0.2%, representing a substantial slowdown from last month's +0.3%... Full text »

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from FOREX.com's Weekly Strategy http://www.forex.com/weekly-forex-research.html