[Analyst: Nonfarm Payroll Report Cools Market Expectations for Fed's October Rate Hike] Odaily Planet Daily News – Following the release of the U.S. nonfarm payroll report, market traders have reduced their bets on a Federal Reserve rate hike in October. Swap contracts tied to the Fed meeting dates indicate that the market is no longer fully pricing in a complete rate hike this year. Allianz Chief Economic Advisor Mohamed El-Erian stated that the U.S. employment data was surprising: only 29,000 new jobs were added in September, the unemployment rate rose to 4.2%, and hourly wages grew by just 0.1% month-on-month. Additionally, the data for July and August was revised downward by approximately 60,000 jobs. On the supply side, the labor force participation rate increased to 61.8%, which is a more positive development. Overall, this further reinforces the impact of recent statements by Federal Reserve officials, suggesting that market expectations for a Fed rate hike in October are cooling.