US Oct Nonfarm Payrolls Rise 165k Beating Estimates; ING Expects 20bp Fed Hike in December

English summary

US October nonfarm payrolls rose by 165,000, significantly beating the expected 75,000, with unemployment falling to 4.1%. ING believes strong employment data supports a 20 basis point rate hike by the Federal Reserve at the December FOMC meeting, but expects a likely pause in hikes next year.