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.



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
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Wall Street
More View more
Real Time News
  • #NOK, #NZD and #AUD are expected to be the most volatile G10 currencies vs USD over the next week with implied volatilities of 15.48, 11.48 and 10.91, respectively.
  • Join @DanielGMoss's #webinar at 9:45 PM ET/1:45 AM GMT for live date coverage of the #RBNZ rate decision here:
  • The US Dollar, British Pound, and Euro will all be closely watching key geopolitical developments in North America (Powell testimony), the UK (Brexit talks) and Europe (EU summit). Get your market update from @ZabelinDimitri here:
  • Gold and silver are at risk of extending their slide from monthly highs as the lack of additional fiscal stimulus and rising geopolitical tensions underpin USD. Get your market update from @DanielGMoss here:
  • #Nasdaq 100 Recovering? Biden-Trump #Election2020 Betting Spread Widens⬇️
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET/00:00 PM GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here:
  • The US Dollar is struggling against ASEAN currencies despite weakness in the S&P 500. Capital remains flowing into emerging markets, keeping USD under pressure, could this change? Find out from @ddubrovskyFX here:
  • Retail CFD traders have poked their head back into net bullish territory - an uncommon territory - in their net positioning for the $DJIA (Wall Street). Skeptical of a breakdown it seems
  • The Nasdaq 100-tracking QQQ ETF saw more than -$3.4 billion leave its coffers on Friday. Get your #Nasdaq market update from @PeterHanksFX here:
  • The $QQQ ETF recently saw its largest outflow, followed by its largest inflow since October 2000 What does this mean for the Nasdaq? Read more -
US Dollar Unfazed Despite 33K Job Loss Following Non-Farm Payrolls

US Dollar Unfazed Despite 33K Job Loss Following Non-Farm Payrolls

2017-10-06 13:00:00
Dylan Jusino,

Talking Points:

- US Non-Farm Payrolls decreased by -33K in September as Hurricanes Harvey and Maria put a hault to hiring.

- The Unemployment rate in the US fell to 4.2% versus the expected 4.4%; lowest since May 2001

- US wages increased along with the participation rate; underemployment fell slightly

- Markets ignored payrolls as the US Dollar rose

- See the DailyFX Economic Calendarand DailyFX Webinar Calendar for event risk coverage like NFPs

See the newly updated fourth quarter forecasts for the US Dollar, Euro, British Pound and more the the DailyFX Trading Guides page.

This morning’s jobs report was purely a reflection of Hurricane Harvey and Maria which interrupted economic activity. The impact of the storms was reflected in jobs data as Non-Farm Payrolls contracted by 33k versus the forecasted +80k. However, the previous figure was revised up from 156k to 169k. Private payrolls also fell but by a wider margin at -40K versus the forecasted +75k.

Not all was bad for the labor market. Average weekly earnings YoY increased by a 2.9% versus the expected 2.6%. The previous figure was revised up to 2.7% compared to the previous 2.5%. The participation rate increased slightly to 63.1% versus the expected 62.9%.

In addition, the unemployment rate hit a near 16-year low at 4.2% marking the best print since May 2001.

For more on this morning’s NFP data be sure to tune into US NFPs (SEP) Round Table Coverage.

Below is a list of economic releases that has driven the US Dollar higher:

- USD Change in Non-farm Payrolls (SEP): -33k versus 80K expected, from 169K (revised high from 156K)

- USD Change in Private Payrolls (SEP): -40k versus 75k expected, from 164k (revised lower from 165k) previous

- USD Unemployment Rate (SEP): 4.2% versus 4.4% expected, from 4.4% previous

See the DailyFX economic calendar for Friday, October 6, 2017

Chart 1: DXY Index 15-minute Chart (October 6, 2017 Intraday)

US Dollar Unfazed Despite 33K Job Loss Following Non-Farm Payrolls

Markets ignored the NFP print as the dollar rose higher on the bearish on the contraction. The unemployment rate caught much of the attention. At the time that this was written DXY traded at 94.14.

--- Written by Dylan Jusino, DailyFX Research

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