11/06/2016 - Mixed Jobs Report Shifts All Focus to Election Tuesday

* Fundamental Recap: Mixed Jobs Report Shifts All Focus to Election Tuesday
* Market Movers: Weekly Technical Outlook
* Look Ahead: Stocks
* Look Ahead: Commodities

Like the preceding two months, the US jobs report for October that was released on Friday morning disappointed expectations. However, the reading still fell within reasonable range of forecasts, showing a relatively solid and stable employment picture that is unlikely to change the expected interest rate trajectory of the Federal Reserve. In addition, a few upside surprises in the report helped to reinforce both the current steadiness of the US economy and the rationale for a December Fed rate hike. Now that the jobs report is out of the way, though, the one immediate event that could very well impact the Fed's interest rate considerations, as well as the direction of the financial markets, is the US presidential election coming up on Tuesday....

The headline non-farm payrolls employment change for October came out at 161,000 jobs added against 175,000 expected. This fell on the lower end of the 160,000-180,000 range that we projected prior to the release. As noted, however, one of the upside surprises occurred in the headline release - namely, September's reading that came out in early October was revised sharply up to 191,000 from its original disappointment of 156,000.... Full text »

Facebook | Twitter | YouTube

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