Non-Farm payroll change was confirmed near the consensus forecast. The actual number was 1371K, while the expectation was a notch higher, 1375K. This understandably didn’t move the markets that much. Only large deviations from the expectation are likely to cause increased volatility. Average hourly earnings were a pleasant surprise at 0.4%, which meant an increase of 0.3% since the previous release. The expectation was 0.0%. The unemployment rate fell much more than expected and came in at 8.4%. The latter two numbers are dollar positive and have resulted in some USD buying.

Cable and EUR have taken the most of the hits since the publication of the data while commodity currencies (AUD, NZD and CAD) display some relative strength but are still slightly down. The chart above is only 1 min chart so it does not reveal long term trends, only the immediate impact over the last 30 minutes after the publication.

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Janne Muta
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2 Comments

    • Janne Muta
      Janne Muta Reply

      Hi Danish, great to hear from you! 🙂 I hope you are well! Good to have you back. I’d be glad to teach you more. Take care bro and see you soon in the next webinar!

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