The huge miss in NFP has seen some large movements in the markets with the US dollar plummeting along with stocks whilst Gold and bonds have rallied. The figure for May showing just 38k jobs added represents the worst reading since September 2011.
The reaction in Gold is perhaps the most remarkable, with the precious metal rising by over $20/oz within minutes of the announcement. Rather surprisingly the unemployment rate also dropped - but this obviously represents a positive for the labour market - moving down to 4.7% which is it’s lowest level in eight years
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