Dollar Emerges as the Winner Out of the Confusing NFP
February 5th, 2010 admin
American job figures came out very confusing. After some choppy trading, the market focuses on the bright side of the data and the dollar continues to rally. Note: This was initially written at 14:15 GMT. I’ll update this post as events unfold. Non-Farm Payrolls didn’t deliver a positive number . The US job market lost 20,000 jobs. The negative number was supposed to be the headline, but the Unemployment Rate stole the show with a drop from 10% to 9.7%. This 0.3% drop in unemployment rate is significant. It’s also a return to the single-digit unemployment rate which is also meaningful in a psychological manner. Forex market action EUR/USD began by falling, and…
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NFP was a disappointment with a significant job loss. But looking at last month’s figure gives the dollar bulls some strength, especially against the Euro. Non-Farm Payrolls for December fell by 85,000. This was a big disappointment, as the market was expecting a balanced figure, and even a rise in jobs. The rise in jobs did come – but...
The American job market gained 432,000 jobs in May, weaker than 524,000 that were expected. This disappointment is mostly due to weak hiring in the private sector. The unemployment rate fell to 9.7%, which is marginally better than predicted, but comes due to drop of people out of the available labor force. These results triggered risk aversive trading...
Non-Farm Payrolls must show gains in jobs this time – the high expectations became higher with the release of the ADP figure that was better than expected. Will there be dollar rally on Friday? Here’s a preview for the Non-Farm Payrolls for January. Last month’s Non-Farm Payrolls were disappointing and showed a loss of 85,000 jobs...
The Australian dollar reminded us of its strength, riding north on another round of good employment figures. It’s now approaching an important resistance line. An update on this strong currency. The Australian unemployment rate fell to the lowest level in 11 months: only 5.3%. This exceeded expectations for a small rise from 5.5% to 5.6%. Contrary...
A busy day is expecting us. The focus is still on the Greek crisis – the market will move by the voices heard at the EU Economic Summit. There are lots of other figures elsewhere. Let’s see what’s up for today. Employment figures in Australia will rock the Aussie early in the day. Australian employment change is expected to show...
Canadian jobs didn’t were slightly disappointing, with a smaller than expected gain in jobs. This sent USD/CAD above parity. The battle around parity isn’t over. Canadian Employment Change showed a gain of 17,900 jobs, worse than last month’s 20,900 gain and the early expectations that stood on 25,900. The unemployment rate remained...
U.S. Non-Farm Employment Change, US Unemployment Change, Canada Employment Situation and Unemployment Rate and many other important events await us today. Here is an outlook on the final day of another trading week. In the US, Non-Farm Payrolls and Employment Situation Report, one of the most important indicators of economic health, measuring the...
Australian employment data was somewhat confusing – with a rise in the unemployment rate but a nice gain in jobs. After the blow AUD/USD got from the Fed decision, together with other currencies, it managed to consolidate. Update. The Australian unemployment rate unexpectedly rose from the low level of 5.1% back to 5.3%. Australia’s rate...
It finally happened – the American job market gained 162,000 jobs in March. The highest gain in 3 years sends the dollar higher across the board. Not all currencies affected equally. NFP Analysis. Non-Farm Payrolls rose by 162K. This is the first time that the Department of Labor reports a rise in jobs in the month that just ended. There was...
U.S. ADP an early indicator of non-farm payrolls and US ISM Non-Manufacturing Index are the major activities on our menu. Here is an outlook on today’s market moving events. U.S. Automatic Data Processing Employment Report, a preliminary estimate for the outcome of the monthly non-farm payrolls is expected to add as many as 36,000 new jobs...
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