SMM

Last Friday, the U.S. non-farm payrolls increased by 150,000 in October after seasonally adjustment, the smallest increase since June. Market expectations were for 180,000. The total number of new jobs in August and September was 101,000 lower than before the revision. The monthly unemployment rate recorded 3.9%, the highest level since January 2022, and market expectations were 3.8%. After the non-farm data was released, federal funds futures prices showed that the possibility of the Federal Reserve raising interest rates by January next year dropped to less than 20%.