Strong nfp did not lift the us dollar – tradebeat. com


Neither the FOMC on Wednesday nor the large US data pack today with the NFP report as the main event managed to revive the US dollar. Usa today sudoku answers In fact the whole week was under the spell of growing irritation of the markets that Donald Trump is not focusing on economic issues (but on Iran, for example). Binary worksheet This is most likely why the strong increase in non-farm payrolls was pretty much ignored and the markets were more interested in what went wrong on the US labor market – to find reasons for offloading more of USD longs built during the ’Trump trade’ phase (in late 2016).

The NFP report had a great headline with the US economy adding 226k jobs in the month of January compared to a consensus estimate of 170k and a prior reading of 156k with a decent rise in the manufacturing payrolls. Fx rate gbp to usd So why was there a negative reaction of USD? The unemployment rate ticked higher to 4.8% with this expected to remain at 4.7% but what was crucial wa the lower than expected increase in average hourly earnings – down from 2.9% YoY seen when the previous NFP report was released to just 2.5% in January. The ISM non-manufacturing PMI was no help either as it came in below expectations at 56.5.

Fed’s Evans was speaking today that slow pace of rate hikes is needed to give the economy an adequate growth buffer to withstand downside shocks. Usd to myr exchange rate Williams was also on the newswires suggesting a rate hike could be discussed already in March as he sees some argument for no delay in tightening.

Swings in the US dollar are affecting commodity markets, but oil had also more interesting news to react to. Future stock market crash USA announced new sanctions on Iran (sending WTI contract above 54 USD/b) and while this does not mean a re-imposition of the embargo that greatly limited the amount of oil the country could extract before 2016, the US seems determined to continue acting against the interests of this country possibly securing more support from other UN countries to ban its exports. Canadian dollar to usd Apart from that we saw US oil rig count climbing fast for a third week running, much faster than during the 2016 rebound of US oil sector activity. Rs to us dollar This sent oil prices lower and it end the day with a reduced, 0.5% gain.

The day started with an event that posed a risk to the overall sentiment. Gold price 2016 Bank of China decided to raise 7,14 and 28 day reverse repo rates today, but the negative reaction was limited to Asian markets. Cool pictures of nature BoJ was also active announcing unlimited fixed-rate purchases of 5 to 10 year JGBs in order to reassert its yield-curve control.

Final Eurozone Services PMI came at 53.7 in comparison with flash reading at 53.6 and the final reading for December at 53.7. Name in binary According to the authors of the PMI survey the reading suggests the EMU economy is growing at the fastest rate since mid-2011. Pound usd It corresponds with GDP rising at a quarterly rate of 0.4%, indicating that the economy is starting 2017 on a solid footing.

Important releases from Australia coming by Monday morning with Melbourne Institute inflation gauge giving us a peek at the first month of 1Q after disappointing 4Q CPI in Australia. Currency converter jpy to usd There will also be data labor demand (job ads index) and a retail sales report. 1 usd to sgd RBA meeting is just a day after these releases. Decimal word problems grade 6 Japan will publish labor cash earnings data while China has Caixin services and compoiste PMIs.

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