Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
Dollar Gyrates After Mixed US March Nonfarm Payrolls Report

Dollar Gyrates After Mixed US March Nonfarm Payrolls Report

Oliver Morrison, Analyst

Talking Points:

- NFP figure comes in at 98K, missing estimates of 180K.

- Last month’s figure is also revised down to 219K.

- Earnings growth matches estimates.

See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.

The US Dollar fell then rose against its main rivals after the US March US Nonfarm Payrolls report revealed 98,000 new jobs were created in the month, missing estimates of a figure of 180,000. Last month’s rise of 235,000 was also revised down to 219,000.

But earnings growth matched estimates, growing 0.20% month-on-month in March, the same level as February. Year-on-year, average hourly earnings also matched estimates, rising 2.70%, slightly down from the 2.80% rise in February. Markets were clearly disappointed with the drop in the headline figure, but the Greenback then quickly recovered.

There were earlier predictions that any drop would most likely be down to seasonal factors, with the unseasonably warm weather the US experienced in the first few months of the year meaning jobs growth was probably 'pulled forward' from forthcoming jobs report.

Here’s the Dollar dropping then revering against the Yen.

USDJPY 15-Minute Chart (Intraday April 07 2017)

Here’s EURUSD losing its initial gains made after the release of the report.

EURUSD15-Minute Chart (Intraday April 07 2017)

Gold also gained on the news. Today has seen an exodus from riskier assets on the news of US missile strikes against Syria, which saw the Dollar weaken against the Yen – seen in the above chart.

Gold Price Chart (Intraday April 07 2017)

Charts by IG

--- Written by Oliver Morrison, Analyst

To contact Oliver, email him at

Don't trade FX but want to learn more? Read the DailyFX Trading Guides

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.