Well, what a surprise that was. I had a feeling that the number might have been close or slightly better than consensus judging by how the USD/JPY broke out above the range. I certainly was not expecting such a large beat above expectation. The consensus was 180k jobs the print was 271k. That will certainly give momentum to the December rate rise crowd. It could be possible that the Fed does a 'one and done' .25% move just to say 'we told you so'. I don't think they will act until next year personally. Why would they act when the anticipation of a rise is causing the effect as if they actually did raise the rate? This NFP number was completely fudged of course to shock everyone. The bond market was taken a bit by surprise also although it was anticipating higher yields. The 10 yr yield soared on the news but stocks did not take too kindly to the fact that the rate might actually rise. It is too early to know what to make of this yet. I will do some posts over the weekend to see what's hot and what's not.
$USD Index daily chart
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