4 min readThe latest Non-Farm Payrolls (NFP) report has been released, revealing actual job gains of 228,000 for the U.S., ahead of the 135,000 forecast. Last month’s actual figures were revised lower to 117,000. However, this is still a net gain, pointing to a slightly stronger-than-feared jobs market.
That said, the U.S. unemployment rate unexpectedly rose to 4.2%, up from 4.1%, painting a more mixed picture. These figures will play a key role in the Federal Reserve and the market assessing the health of the US economy after Trump’s trade tariff announcement on Wednesday and China’s retaliatory move today.
DOLLAR INDEX (DXY):
Post the release of the NFP results, we have seen the Dollar Index recover from today’s low and rising into positive territory.The USD trades 0.15% higher on Friday, which has correlated to a 0.15% fall on EURUSD.
EURO VS DOLLAR (EUR/USD):
If we take a closer look at the technicals, we can observe how price was trading at 1.1085 before the news release, and post the release we have seen price action push lower into the 1.1025 region. The EUR/USD ran into resistance at 1.1148. The price consolidates but the uptrend remains while the price holds above 1.0950.
S&P 500 (SDX):
The S&P 500 has also seen a small impact from this NFP data result release, as we saw price trading at just below 5250 before the announcement, and currently we are trading just above 5260, marking a small increase within the last 30 minutes of trading. Although the price still remains accutely depressed on the day, at an 8-month low.
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