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Koefoed on US jobs: It's all going to plan

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November 07, 2014 america, business, business news, content, djl, dollar, dow jones, economics, economy, employment, employment report, equties, euro, eurodollar, eurusd, fed, fed rates, finance, fomc, foreign exchange, forex, index, interest rates, janet yellen, jobs, jobs gain, jobs report, macro, markets, news, news video, nfp, nfps, nonfarm, nonfarmpayrolls, nonfarms, obama, october, owen, qe, rate rise, rates, saxo, saxo bank, saxo tv, social trading, stoxx600, strategy, thomas, traders, trading, tradingfloor, tradingfloor.com, tv, united states of america, us, us dollar, us economy, us jobs, us jobs data, us rate rise, usa jobs, usd, video content, yellen
The unemployment rate in the States has dropped to 5.8%, according to the nonfarm payroll data. 214,000 new jobs were created in October. However, we were expecting a slightly higher figure.
Saxo Bank's Head of Macro Strategy, Mads Koefoed says it shows the US recovery is on track even though these are hardly spectacular figures. He suggests the Fed was right to end QE when it did and we can expect an interest rate rise in the first part of 2015.  The dollar was little changed on the news.