US Nonfarm Payrolls Exceeded Expectations in October

US nonfarm payrolls data for October were released, revealing a significantly stronger-than-expected picture. Employment rose by 165,000, compared to expectations of 65,000. Thus, the actual figure was more than double the forecast. The strong pace of job growth indicated that the labor market is more resilient than expected. The data came as a surprise to market participants and significantly exceeded expectations. In the same period, the unemployment rate also declined. The unemployment rate fell to 4.1%. This decline in the unemployment rate, along with the job growth, showed that tightness in the labor market persists. The released data are among the closely watched indicators for the macroeconomic outlook. Developments in employment and the unemployment rate are likely to influence the overall market direction. Not investment advice.

📊 DXY — Piyasa Yorumu

▲ up · 55%

Strong employment data could support the dollar by reducing expectations for Fed rate cuts. However, DXY is already in overbought territory with an RSI of 81.9 and has risen 0.6% in 24 hours, which limits upside potential. MACD is positive and the price is above SMA20/SMA50, indicating a short-term upward trend. Nevertheless, overbought conditions present a risk of profit-taking. I anticipate a cautious upward bias.

RSI 14

81.9

MACD

0.15

24h Δ

0.60%

📊 SPX — Piyasa Yorumu

▼ down · 55%

Strong employment data could dampen risk appetite by reducing expectations for Fed rate cuts. However, SPX has already fallen sharply: RSI at 24 places it in oversold territory, and the price is clearly below SMA20/SMA50. MACD is negative and below its signal line, with momentum weak. Oversold conditions could set the stage for short-term rebound buying; therefore, I maintain moderate confidence in the downside direction.

RSI 14

24.4

MACD

-59.74

24h Δ

-3.30%

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