U.S. adds only 29,000 jobs; odds of another Fed rate hike drop
U.S. payrolls rose by 29,000 in September against forecasts of roughly 84,000 to 95,000, and unemployment rose to 4.2% from 4.1%; July and August were cut by a combined 60,000 jobs (Semafor, CBS, InvestmentNews, Babypips). The Federal Reserve raised rates by a quarter point to 3.75-4.00% in September in a 12-0 vote. After the data, the odds of an October hike fell to roughly 14 to 17 percent, from about 70 percent, though sources differ on the exact figure.
Lower U.S. rates reduce pressure on emerging-market currencies like the peso.
A softer dollar outlook can ease the cost of imports and dollar debt, but the Fed has not ruled out a hike.
One weak report does not change the Fed's path. Watch the next U.S. inflation figure.
DailyDrop Philippines edition No. 1 · Morning · MON., OCT. 5, 2026