US nonfarm payrolls report june 1 2012

forex trading outlook today - US nonfarm payrolls report june 1 2012 : US nonfarm payrolls showed the US economy created 69,000 jobs in May, recording the smallest increase in a year and well below market expectations of 150,000. The unemployment rate, meanwhile, rose to 8.2% from 8.1%. April and March gains were downwardly revised. April jobs were trimmed to 77,000 from 115,000 previously estimated, while March's figure was revised to 143,000 from 154,000.

The US economy has created just 69K jobs during May, measured by the NFP, and the unemployment rate has surprised to the upside, rising to 8.2% from 8.1% in the same period.

In the same tone, the ISM manufacturing index fell to 53.5 in May, below estimates at 53.9 and down from April’s 54.8

The dollar initially strengthened on the back of disappointing nonfarm payrolls, but as participants consider the risks of the Fed launching another round of bond purchasing (QE3), the US currency lost momentum and reversed gains.

Related Post: