(News Bulletin 247) – The CAC 40 amplifies its gains after the publication of robust employment figures in the United States for the month of September. The euro is falling against the dollar.

It was undoubtedly the publication of the week to follow: the official American employment figures for the month of September. And the content of these figures published at 2:30 p.m. excites the “bulls”, investors who bet on the rise in stock market indices since they turn out to be significantly higher than expectations.

The job market in the United States remains very solid. In September, the American economy actually created 254,000 jobs compared to 159,000 in August, while economists surveyed by the Wall Street Journal were counting on 150,000 new job creations in September.

At the same time, the unemployment rate fell in September in the United States, to 4.1% compared to 4.2% in August.

A long-awaited report

This report was awaited not without a certain degree of anxiety. The American Federal Reserve (Fed) has repeatedly emphasized that it is very attentive to the state of health of the job market across the Atlantic to steer its monetary policy.

“Given the strength of the labor market highlighted by the September jobs report, the real debate within the Fed should be over whether to ease monetary policy. Hopes for a reduction of 50 basis points (0.5 percentage points) are long gone. We continue to believe the Fed will take a more measured approach, cutting rates by 25 basis points (0.25 percentage points) each time. meeting until the policy rate is between 3.00% and 3.25%,” says Paul Ashworth of Capital Economics.

“The economy is on fire, and anyone who thinks the U.S. labor market isn’t strong needs a serious reality check. The market reaction is crystal clear: the dollar is king and demand for gold declines When it comes to US stock markets, it’s worth letting the dust settle, as several factors are at play. However, good news is still good news: the Fed will likely cut rates. “interest, but not 50 basis points. So as we navigate this landscape, it’s important to keep our eyes on the prize and not lose sight of the bigger picture,” says Naeem. Aslam from Zaye Capital Markets.

Following this publication, the CAC 40 accelerated the pace, gaining 1.15% around 3:10 p.m. to 7,564.12 points, compared to an increase of 0.5% just before the publication of these employment figures at 2:30 p.m.

Above all, the dollar is increasing its gains. The euro thus fell by 0.54% against the greenback to 1.0974 dollars while the single currency was stable against the greenback before this publication.