fxs_header_sponsor_anchor

Breaking: US Nonfarm Payrolls surge by 916,000 in March, DXY stays below 93.00

Nonfarm Payrolls (NFP) in the US rose by 916,000 in March, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed February's increase of 468,000 (revised from 379,000) and came in much better than the market expectation of 647,000.

Follow our live coverage of the US jobs report and the market reaction. 

Further details of the publication revealed that the Labor Force Participation Rate edged higher to 61.5% and the Unemployment Rate fell to 6% from 6.2%, matching analysts' estimates. Finally, wage inflation, as measured by the Average Hourly Earnings, fell to 4.2% on a yearly basis from 5.2% and missed the market consensus of 4.5%

Market reaction

With the initial market reaction, the greenback gathered some strength against its major rivals and the US Dollar ındex was last seen posting small daily gains at 92.97.

NFP Quick Analysis: Dollar buy opportunity? Tepid dollar reaction to sub-million job gain seems wrong.

"It is all about expectations – with headlines such as "the highest since 1983" shaping estimates and the market reaction," said FXStreet analyst Yohay Elam. "The US economy gained no fewer than 916,000 jobs in March, the highest since October. The Unemployment Rate dropped to 6% amid a participation rate of 61.5%." 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.