NFP USD Fundamental Impact Analysis

The dollar has shot higher following the jobs report. Examine this extensive 2 February NFP USD Fundamental Impact Analysis for more detail.

2 February, HotForex –  Earlier, we reported that NFP  Unemployment rate was expected to increase by 180K from 148K, while the unemployment rate is expected to hold steady from 4.1% in October.

2 February NFP USD Fundamental Impact Analysis

The dollar shot higher following the jobs report, which saw NFP rise 200k versus consensus expectations for a 184k rise. EURUSD skidded to 1.2437 from 1.2490, as USDJPY rallied to 110.37 from 109.85. Gold fell in the aftermath of the jobs report, where strong hourly earnings data saw yields and the dollar shot higher. The contract fell from $1,349.00 to $1,333.70.

Hourly earnings were in-line, at up 0.3%, while the unemployment rate was steady at 4.1%. U.S. nonfarm payrolls increased 200k in January, right on the button, after December’s 160k gain (revised from 148k). However, November’s 252 jump was revised down to 216k.

The unemployment rate was steady at 4.1%. Household employment surged 409k versus 104k previously, with the labor force up 518k from 64k. Earnings were up 0.3% last month following the 0.4% December gain (revised from 0.3%). The workweek fell to 34.3 from 34.5.

The labor force participation rate was unchanged at 62.7%. Private payrolls increased 196k, with the goods-producing sector adding 57k. Construction jobs were up 36k. Manufacturing employment rose 15k. Service sector jobs rose 139k. Government employment was up 4k. This is an overall solid report, with broad-based gains, though the stronger earnings numbers will be a focal point and are likely to keep Treasury yields headed higher.


This article about 2 February NFP USD Fundamental Impact Analysis was written by Andria Pichidi, Market Analyst at HotForex. The provided article is a general marketing communication for information purposes only. It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.

All information provided gathered from reputable sources. Any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. We assume no liability for any loss arising from any investment made based on the information provided in this communication.

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