{"id":70750,"date":"2023-10-09T10:57:09","date_gmt":"2023-10-09T07:57:09","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=70750"},"modified":"2025-12-01T11:30:27","modified_gmt":"2025-12-01T09:30:27","slug":"septembers-better-than-expected-us-employment-data","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/ms\/septembers-better-than-expected-us-employment-data\/","title":{"rendered":"September\u2019s better-than-expected US employment data"},"content":{"rendered":"<p>The USD got some support from the US Employment report for September as it showed resilience in the US employment market, given that the Non-Farm Payrolls figure rose to 336k, a figure far higher than what the market expected. The release may sharpen the Fed\u2019s hawkishness once again and allow for the bank to hike rates once more until the end of the year. It\u2019s an oxymoron, yet the release tends to dampen the scenario of a soft landing for the US economy and thus had an adverse effect on US stock markets initially. Also, the earnings season is starting, and we may see some increased attention to US equities markets. Furthermore, US yields rose to levels not seen for 16 years. Yet the market sentiment was quickly reversed allowing for the USD to end the day lower against its counterparts while US stock markets and gold\u2019s price rose. It should be noted that the conflict in Israel between Hamas and the state of Israel seems to have passed under the market\u2019s radar for now, yet may prompt some support for safe-haven instruments and at the same time may push oil prices higher and have an inflationary effect, adding further relevance to US Employment trends.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"The IMF growth projections worldwide are revised down, except for the US\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/Wq7NsYgjMCA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>On a technical level, we note that USD\/JPY remained rather stable in a sideways motion between the 150.10 (R1) resistance line and the 148.00 (S1) support line. Given that the RSI indicator continues to be running along the reading of 50, implying a rather indecisive market, and the Bollinger Bands tended to narrow, implying lower volatility, we tend to maintain our bias for the sideways motion of the pair to be maintained, especially as markets await further US Employment data. Should the bulls take over, we may see the pair breaking the 150.10 (R1) resistance line and aim for the 151.90 (R2) resistance barrier. Should the bears take over, we may see the pair breaking the 148.00 (S1) support line and aiming for the 146.10 (S2) support level.<\/p>\n\n\n\n<p>In the European theatre, EUR\/USD also tended to stabilise between the 1.0515 (S1) support line and the 1.0635 (R1) resistance level. Given that the downward trendline guiding the pair since the 18th of July has been broken, we temporarily switch our bearish outlook for a sideways-motion bias, yet bearish tendencies may re-emerge, especially as markets await further US Employment signals. Should a selling interest be displayed once again by the market, we may see the pair breaking the 1.0515 (S1) support line and aim for the 1.0445 (S2) support nest. Should the pair find fresh buying orders along its path, we may see it breaking the 1.0635 (R1) resistance line and aim for the 1.0735 (R2) level.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>Today we note the release of Germany\u2019s industrial output for August, Norway\u2019s GDP rates for the same month and the Eurozone\u2019s Sentix index for October. Please note that ECB Governing Council member Centeno, ECB Policymaker Knot, Dallas Fed President Logan and BoE rate setter Mann are scheduled to speak, events that markets may interpret in the broader context of recent US Employment developments. During tomorrow\u2019s Asian session, we note the release of Japan\u2019s current account balance for August and Australia\u2019s September business conditions and confidence indicators.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-as-for-the-rest-of-the-week\"><strong>As for the rest of the week:<\/strong><\/h2>\n\n\n\n<p>On Tuesday we note the release of Sweden\u2019s GDP rate for the same month as well as Norway\u2019s and the Czech Republic\u2019s CPI rates for September. On Wednesday we get the US PPI rates for September and Canada\u2019s building permits growth rate for August, and we highlight the release of the Fed\u2019s September meeting minutes in the late American session, which markets may assess alongside recent US Employment signals. On Thursday we note the release of Japan\u2019s corporate goods prices for September and machinery orders for August, the UK\u2019s GDP rate and manufacturing output rates for August, and highlight the US CPI rates for September\u2014data that traders may compare against US Employment trends for additional context. Finally, on Friday we get China\u2019s inflation metrics and trade data for September, Sweden\u2019s CPI rates for the same month, Eurozone\u2019s industrial production for August and, in the American session, the preliminary US University of Michigan consumer sentiment for October.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-usd-jpy-4-hour-chart\"><strong>USD\/JPY 4 Hour Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/10\/image-37.png\" alt=\"US Employment\" class=\"wp-image-70751\" title=\"usd-jpy-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 148.00 (S1), 146.10 (S2), 144.55 (S3)<\/p>\n\n\n\n<p>Resistance: 150.10 (R1), 151.90 (R2), 153.50 (R3) <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eur-usd-chart\"><strong>EUR\/USD Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/10\/image-38.png\" alt=\"US Employment\" class=\"wp-image-70752\" title=\"eur-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.0515 (S1), 1.0445 (S2), 1.0315 (S3)<\/p>\n\n\n\n<p>Resistance: 1.0635 (R1), 1.0735 (R2), 1.0835 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2000\" height=\"491\" src=\"\/wp-content\/uploads\/2023\/10\/image-39.png\" alt=\"\" class=\"wp-image-70753\" title=\"benchmark-09-10-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1059\" height=\"612\" src=\"\/wp-content\/uploads\/2023\/10\/image-41.png\" alt=\"\" class=\"wp-image-70755\" title=\"table-09-10-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1365\" height=\"1124\" src=\"\/wp-content\/uploads\/2023\/10\/image-40.png\" alt=\"\" class=\"wp-image-70754\" title=\"morning-releases-09-10-2023\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:research_team@ironfx.com\" target=\"_self\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>","protected":false},"excerpt":{"rendered":"<p>The USD got some support from the US Employment report for September as it showed resilience in the US employment<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-70750","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>US Employment Data| Stronger Than Expected for September<\/title>\n<meta name=\"description\" content=\"September\u2019s better-than-expected U.S. employment data boosts confidence in the labor market and influences expectations for future policy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/ms\/wp-json\/wp\/v2\/posts\/70750\/\" \/>\n<meta property=\"og:locale\" content=\"ms_MY\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"September\u2019s better-than-expected US employment data\" \/>\n<meta property=\"og:description\" content=\"September\u2019s better-than-expected U.S. employment data boosts confidence in the labor market and influences expectations for future policy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-cn.com\/ms\/septembers-better-than-expected-us-employment-data\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-09T07:57:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-01T09:30:27+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/septembers-better-than-expected-us-employment-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/septembers-better-than-expected-us-employment-data\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"September\u2019s better-than-expected US employment data\",\"datePublished\":\"2023-10-09T07:57:09+00:00\",\"dateModified\":\"2025-12-01T09:30:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/septembers-better-than-expected-us-employment-data\\\/\"},\"wordCount\":810,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"ms-MY\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/septembers-better-than-expected-us-employment-data\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/septembers-better-than-expected-us-employment-data\\\/\",\"name\":\"US Employment Data| Stronger Than Expected for September\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/#website\"},\"datePublished\":\"2023-10-09T07:57:09+00:00\",\"dateModified\":\"2025-12-01T09:30:27+00:00\",\"description\":\"September\u2019s better-than-expected U.S. employment data boosts confidence in the labor market and influences expectations for future policy.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/septembers-better-than-expected-us-employment-data\\\/#breadcrumb\"},\"inLanguage\":\"ms-MY\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/septembers-better-than-expected-us-employment-data\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/septembers-better-than-expected-us-employment-data\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"September\u2019s better-than-expected US employment data\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ms\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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