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US JOBS REPORT SMASHES FORECASTS — FED RATE HIKE ODDS IN FOCUS
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US nonfarm payrolls rose by 165,000 in October, nearly triple the 59,000 consensus estimate, while the unemployment rate fell to 4.1% versus the 4.2% expected. The stronger-than-forecast jobs report shifts market attention to the odds of a Federal Reserve rate hike. Traders will watch fed funds futures pricing for any repricing of the policy path.
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Named in this story
Federal Reserve, US economy, Walter Bloomberg