Details from the April 2016 US Non farm payrolls and employment data report 6 May 2016

  • Prior 215k. Revised to 208k

  • Private payrolls 171k vs 193k exp. Prior 195k. Revised to 184k

  • Manufacturing payrolls 4k vs -5k exp. Prior -29k

  • Government payrolls -11k vs 20k Prior. Revised to 24k

  • Unemployment rate 5.0% vs 5.0% exp. Prior 5.0%

  • U6 underemployment 9.7% vs 9.8% prior

  • Average hourly earnings 0.3% vs 0.3% exp m/m. Prior 0.3%. Revised to 0.2%

  • 2.5% vs 2.4% exp y/y. Prior 2.3%

  • Average weekly hours 34.5 vs 34.5 exp. Prior 34.4

  • Participation rate 62.8% vs 63.0% prior

Not as soft as the move in the dollar suggests. Take off the miss in NFP and it's a steady report.

Anyone else spot the dive in USDJPY around 5 seconds before the number came out?

There's nothing here that's game changing for the Fed and it's that fact that's keeping us hovering down near the spike lows. The market wants a clue to whether they will hike in June and they didn't get one here.

Going forward, there's still a lot of indecision. At a push, if I had to lean one way or another as to what direction we take, I'd say we see the dollar keep a soft tone. I won't rule out it going right back to where it started though.

US NFP