Non-farm Payrolls showed a a gain of 103K jobs in September. Early expectations were for a gain of around 50K. The unemployment rate remained unchanged at 9.1%, as expected. The initial reaction is of a weaker dollar on risk appetite. EUR/USD was trading around 1.3450 before the release and is now aiming for 1.35. The dollar is falling against all currencies except the Japanese yen. Classic risk rally that continues previous action this week. This is the initial reaction and things might still change. Average Hourly Earnings rose by 0.2% as expected. At last some good news. Will the US avoid recession? – Updated soon ... (full story)