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Week Ahead – NFP to Guide Yields, RBA Could be a Yawn, Pound Turns to UK Budget for Boost

As a new month starts, investors will have their eyes locked on the latest nonfarm payrolls numbers out of the United States amid an accelerating selloff in bond markets. The Reserve Bank of Australia’s policy meeting will be the only central bank gathering of the week but is unlikely...

USD Retreats After Soft US Employment Data For January

The USD retreated against a number of its counterparts on Friday and during today’s Asian session as worries for the rebound of the US employment market tended to resurface after a relative euphoria for the comeback of the US economy. Despite the unemployment dropping and the NFP figure landing...

US Dollar Reverses Course Post-NFP

Weak NFP sends dollar broadly lower The US dollar fell heavily after a weaker than expected Non-Farm Payrolls on Friday. Although the US yield curve steepened, rises in yields in the long-end were offset by falls in yields at the short-end, making it US dollar neutral. The dollar index traced...

Tangoing In Tokyo

Asian markets follow Wall Street gains Asian markets have started the week on a positive note, as a disappointing US Non-Farm Payrolls on Friday couldn’t damp the stimulus-infused enthusiasm of Wall Street. The news front was relatively quiet over the weekend as far as market impact goes, leaving the road...

Nonfarm Payrolls Give Dollar A Black Eye, But Stocks Roar

Disappointing US jobs report knocks dollar down Yet, bad economic news is good news for stimulus and stocks Disappointing vaccine news go unnoticed, inflation on the radar Softer labor market strengthens case for tremendous relief The US employment report fell short of expectations, feeding the narrative that the recovery in...

Asian Open Equities Finish On A High Dollar Bears Return

A weak NFP report and increased odds that Biden's stimulus package is to be rolled out later this month propelled equities to new highs and slammed the dollar on Friday. It was another strong finish for global equities, with most global benchmark indices closing at or near record highs. The...

Soft Jobs Rreport Greenlights Case for More Stimulus

US stocks are shrugging off a disappointing nonfarm payroll report that showed December was much worse and that January only saw a modest rebound in hiring. Stimulus prospects are unchanged as Democratic lawmakers appear poised to move President Biden's $1.9 trillion stimulus bill forward without Republican support. Stocks are...

US Labour Market Resumed Recovering in January

Non-farm payroll employment rose 49k; weakness again concentrated in the hospitality sector The unemployment rate dipped lower to 6.3%; labour force participation held steady Household income to rise in January, alongside savings rate US payroll employment grew 49k at the turn of the year, despite further job losses in...

Dollar Drops Broadly Following NFP Disappointment

Dollar drops broadly in early US session after much smaller than expected non-farm payroll job growth, even though unemployment dipped notably. Canadian Dollar is some what pressured today after larger than expected job losses. But Yen is the one following the greenback as second weakest. Australian Dollar and Euro...

US non-farm payroll rose only 49k in Jan, but unemployment rate dropped to 6.3%

US non-farm payroll employment rose only 49k in January, well below expectation of 85k. "Notable job gains in professional and business services and in both public and private education were offset by losses in leisure and hospitality, in retail trade, in health care, and in transportation and warehousing." However, unemployment...

The Stock Market And The Dollar Index Continued To Rise In Anticipation Of The NFP Data

On Thursday, the announcement of the results of the meeting of the Bank of England was an important event of the day, which left interest rates at the previous level of 0.1% and the volume of bonds redemption at £875 billion. The Bank of England announced that the UK economy...

Vaccine-Led Rally Back On, Dollar Stands Tall

Rising hopes that vaccinations will soon bring an end to lockdowns fuel global equities Dollar eases slightly but USD bulls may have already reawakened; NFP eyed Pound jumps after BoE says negative rates not imminent, euro steadies Stocks gripped by normalization hopes Progress in the global vaccination campaign and expectations...

Short Squeeze Sends US Dollar Higher

US dollar boosted by yield curve steepening The rise in the US 30-year yields overnight gave the dollar short-squeeze renewed momentum. The dollar index rose by 0.40% to 91.50, lifting it well clear of support at 91.00. The euro and yen were notable index component casualties. EUR/USD has fallen 0.60%...

Bye-Bye Frenzy, Back To The Familiar

US futures point to more record highs. Positive NFP surprise should boost risk sentiment. Gold's death cross appears imminent. Global markets are now revisiting a familiar script, with investors pushing broad asset classes higher on more signs pointing to the US economic recovery. Stock markets Stateside posted new record highs...

The US Payrolls Remain An Important Input For Trading

Markets The established uptrend in equities continued yesterday as investors anticipated a reopening of the economy in a context of persistent easy monetary and fiscal conditions. Good corporate results added to the move. European equities gain about 1%. Major US indices rose between 1.08% (Dow) and 1.23% (Nasdaq), with the...

Stronger Sterling As Vaccinations Move Ahead

Market movers today US non-farm payrolls are expected to increase around 100k. The labour market is still suffering from weakness in the service sector, where most of the jobs are and have been lost as well. The labour market will be challenged until the economy can open up fully...

US Dollar Holds Stead Ahead Of US Nonfarm Payrolls

The Japanese yen declined against the US dollar even after Japanese household spending data. According to the country’s statistics bureau, household spending in the country rose by 0.9% in December after dropping by 1.8% in the previous month. This increase was better than the expected decline of 1.9%. The...

Dollar Strong in Risk-On Markets, Non Farm Payrolls in Focus

Return of risk-on markets, after some solid economic data, pushed S&P 500 and NASDAQ to new record highs overnight. Yen and Swiss Franc trade broadly lower naturally but Euro was not far behind. Commodity currencies, while firm, are so far overwhelmed by Sterling and Dollar. In particular, the greenback...

Dollar index eyes 91.74 resistance as NFP awaited

Dollar is currently trading as the strongest one for the week and stays firm, as focus turns to non-farm payrolls report from the US. Markets are expecting 85k job growth in January, while unemployment rate would stay at 6.7%. Looking at some employment related data, ADP private job growth surprised...

Asia Open: The Dollar Continues To Squeeze Bears With Firmer US Data

Firmer US data overnight helped propel the dollar and further confound bears who remain positioned for a deeper macro sell-off. The Dollar Continues to Squeeze Bears with Firmer US Data GBP and USD were strongest majors overnight, CHF and JPY were the weakest majors overnight. Firmer US data strengthen the...

NFP Preview: A Strong Report Could Accelerate Dollar Recovery

One of the closely-watched macroeconomic numbers is due for release on Friday as the US Bureau of Labor publishes the nonfarm payrolls report. Traditionally, this monthly jobs report has been one of, if not the biggest, data release in terms of its impact on the markets. But over the...

NFP Preview: Reasons for Optimism?

Background After last month’s rather depressing Non-Farm Payroll report, which itself closed out one of the more depressing weeks in US weeks in US history, there are some signs that this month’s jobs report could bring cause for optimism. Most Americans received desperately-needed $600 stimulus checks in January (and there’s increasing...

Have The Rules Changed For Trading The US Dollar?

Throughout the past several months, a risk rally ordinarily meant a weaker US Dollar. The DXY index, which measures the greenback’s value against a basket of six world currencies, slid 6.7% in 2020 recording its second worst annual performance since the global financial crisis. Global expansionary monetary and fiscal...

The Complete Guide To Non-Farm Payrolls (NFP)

What are non-farm payrolls? Non-farm payrolls (NFP) are monthly measurements of how many workers there are in the US, excluding farm workers and a few other job types such as government workers, private households and non-profit employees. The data is collected on a monthly basis by the Bureau of Labor Statistics...

Can Nonfarm Payrolls Extend the Dollar’s Recovery?

The US employment report for January will hit the markets at 13:30 GMT Friday. Forecasts point to another soft report, which would confirm that the labor market recovery is plateauing. But that may not be as bad as it sounds for markets, as another disappointment could pressure the politicians...

US NFP Not So Bad; Canadian Employment Change Even Better: USD/CAD

The US Non-Farm Payrolls reports showed that the US economy lost 140,000 jobs during the month of December vs an expectation of +71,000.  However, the revision to the November print was +336,000, and increase of 91,000.  Because of the revision, the NET NFP number for December was -49,000.  Therefore,...

NFP React: Much Ado about Nothing, Dollar Softens, Oil Surges, Gold Outflows, Bitcoin’s Unstoppable Rally

The labor market recovery hit a brick wall in December as the winter virus surge continues to weigh on businesses. The negative December nonfarm payroll report was expected as COVID lockdowns pummeled 498,000 leisure and hospitality jobs. Investors are shrugging off this disappointing NFP report as the implications incrementally...

US: Jobs Shed in December as Restrictions Weigh on Leisure and Hospitality 

Nonfarm payrolls fell by 140k in December, below market expectations for a 71k gain. The unemployment rate remained unchanged from November at 6.7%. Unsurprisingly, the biggest losses were in the leisure and hospitality (-498k), concentrated in bars and restaurants (-372k). Employment in the sector remains 23% lower than...

Dollar Weakens Against on Job Contraction, Downside Limited So Far

Dollar appears to be turning weaker again after non-farm payroll report showed the first contraction since April. Euro is currently following as second weakest for the than, than Canadian, which was also weighed down by employment data. On the other hand, Sterling is starting to reverse some of this...

US NFP employment dropped -140k, unemployment rate unchanged at 6.7%

US non-farm payroll employment contracted -140k in December, well below expectation. That's the first decline in jobs since April. Though, prior month's figure was revised up from 245k to 336k. Unemployment rate was unchanged at 6.7%, below expectation of 6.8%, with 10.7m people unemployed. Labor force participation rate was unchanged...