U6 Unemployment Rate comes in at 7.7% against 7.6% consensus

The U.S. U6 Unemployment Rate, a broader measure of unemployment, was released today at 7.7%. This figure came in above the consensus expectation of 7.6% and marked a 1.3% surprise against that forecast. The previous reading for the U6 Unemployment Rate was 7.9%.

Following the release, the U.S. Dollar generally strengthened against major currencies. Fifteen minutes after the print, AUDUSD was down 20 pips, EURUSD was down 27 pips, GBPUSD was down 35 pips, and NZDUSD was down 27 pips. These moves were generally above their respective median 1-hour historical moves. USDCAD gained 70 pips, significantly exceeding its median 1-hour move of 26 pips and top-quarter move of 41 pips. USDCHF was up 33 pips, near its top-quarter historical move of 32 pips. USDJPY gained 22 pips, a move below its median 1-hour historical move of 27 pips. Gold, XAUUSD, fell 759 pips in the 15 minutes following the release, a move substantially larger than its median 1-hour historical move of 56 pips.