Payrolls report largely softer than expected across the board
Tends to reinforce lack of urgency from some Fed members
USD/JPY reset to 157 expiry, euro more reluctant to bounce given France issues
Downside surprise on the latest payrolls print at 29k, with prviate also 40k below market (corrects)
Unemployment rate ticks up 0.1pp as well, and earning surprises low again at 0.1%, if leaving the yr/yr trend relatively flat around 3%.
All in all then, subject to a more detailed look, not the sort of number that is going to be adding to the urgency of the Fed members that want to spend more time digesting data after Sep. Next CPI report potentially more important.
Data gives the USD/JPY pullback a bit of following wind, even if EUR/USD is a little more reluctant to bounce yet given the overhanging French issues. On USD/JPY, the directional pull is back towards the lower expiries at 157.