4 min readThe latest Non-Farm Payrolls (NFP) report has been released, revealing actual job gains of 143,000 for the U.S., which is considerably lower compared to the forecast of 169,000 and last month’s actual figures of 256,000. These results reflect a strong statement about the U.S. economy being resilient during these times.
The U.S. unemployment rate came in at 4.0%, slightly lower than the forecast and the previous rate of 4.1%. These figures will play a key role in the Federal Reserve’s considerations for their upcoming interest rate decision later this month, where the likelihood of a pause on the current interest rate remains evident.
DOLLAR INDEX (DXY):
Post the release of the NFP results, we have seen the Dollar Index decrease by a staggering 0.58%, which has correlated to a 0.60% increase on EURUSD.
EURO VS DOLLAR (EUR/USD):
If we take a closer look at the technicals, we can observe how price was trading just below 1.03700 before the news release, and post the release we have seen price action push considerably higher into the 1.04100 region. Marking a significant break in structure to the upside, however price does seem to have found some balance and is ranging between the highs of 1.04100 and the lows of 1.03550.
S&P 500 (SDX):
The S&P 500 has also seen a direct impact from this NFP data result release, as we saw price trading at just below $6,087.00 before the announcement, and currently we are trading just above $6,104.00. Marking a significant increase of over 0.45% within the last hour of trading. Price does look to be currently ranging within these highs and lows post the announcement.
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