US releases mixed employment data

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The US Bureau of Labor Statistics has just released the US monthly employment data. In general, the data shows a mixed job environment. The US Dollar is reacting to the news by an initial spike up and then starting a decline.

Average Hourly Earnings were expected to increase by 0.3% on a month on month basis. The actual number is at the forecast.

Non-Farm Employment Change was forecast to show an increase of 191,000. Instead the reading is a higher increase of 206,000. This caused the initial spike up of 13 base points.

Market consensus forecast for the Official Unemployment Rate to remain at 4.0%. However, the market was surprised that the official unemployment rate is higher at 4.1%. These news started the follow up decline.

This week, on Tuesday, the Chairman of the Federal Reserve Jerome Powell announced that he needs to see more data to decide upon the future US monetary policy. Namely, the interest rates and with it the demand for the US Dollar.

In general, bad data means that the Fed will cut and the US Dollar goes down.
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