US Employment Rises by 165,000 in October: 2.5 Times Expectations

Employment data for October in the US indicated a significantly higher increase than market expectations. Employment in the country rose by 165,000 people in October. This figure corresponds to approximately 2.5 times the expectations. The employment increase exceeding expectations is considered a signal that the labor market remains resilient. The data is of a nature that could affect market perception regarding the course of economic activity. Employment data is among the indicators closely followed in terms of monetary policy and interest rate expectations. The increase, which came significantly above expectations, stands out as a factor that market participants will take into account in their assessments. Not investment advice.

📊 DXY — Piyasa Yorumu

▲ up · 55%

The US employment data coming in well above expectations is a positive short-term catalyst for DXY; a strong labor market could support the dollar by delaying Fed rate cut expectations. However, RSI14 is at 77, in overbought territory, and the price is above SMA20/SMA50, indicating that the upward movement may be limited. MACD is positive above the signal line but momentum is weak. I expect a moderate upward bias in the short term, but there is a risk of profit-taking due to overbought conditions.

RSI 14

77.2

MACD

0.16

24h Δ

0.67%

📊 SPX — Piyasa Yorumu

▼ down · 55%

Strong employment data could reduce expectations of Fed rate cuts, thereby suppressing risk appetite. The RSI is already weak at 33.9, and the price is below the SMA20/SMA50; MACD is in negative territory and below its signal line. In the short term, support at 7400 is critical; if broken, selling could deepen. However, proximity to oversold territory may also bring about reaction buying. The net direction is downward but cautious.

RSI 14

33.9

MACD

-62.08

24h Δ

-2.15%

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