US economy adds 215,000 jobs in July

Today’s Non-farm pay roll figures for the US show the labour market expanding by 215,000 in July with earnings inflation remaining in line with expectations at 0.2 per cent. Although market expectations had the payroll figure at 225,000 the continued expansion shows the US keeping unemployment at pre crisis levels. Unsurprisingly this data has pushed expectations of a September rate rise ever closer with the dollar rallying versus the basket of its peers. True to form S&P futures have the US market opening  at a discount off the back of these results.