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.
TIOmarkets offers exclusively consultancy-free service. The views expressed in this blog are our opinions only and made available purely for educational and marketing purposes and do NOT constitute advice or investment recommendation (and should not be considered as such) and do not in any way constitute an invitation to acquire any financial instrument or product. TIOmarkets and it’s affiliates and consultants are not liable for any damages that may be caused by individual comments or statements by TIOmarkets analysis and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his/her investment decisions.
The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with any legal requirements for financial analyzes and must, therefore, be viewed by the reader as marketing information. TIOmarkets prohibits the duplication or publication without explicit approval. FX and CFDs are leveraged products. They are not suitable for every investor, as they carry a high risk of losing your capital. Please ensure you fully understand the risks involved.