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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Low
High
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
Bearish
Wall Street
Bearish
Gold
Bearish
Low
High
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.82% Silver: 0.27% Gold: 0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/kDr5Y0tgRI
  • 🇧🇷 Business Confidence (JUL) Actual: 47.6 Previous: 41.2 https://www.dailyfx.com/economic-calendar#2020-07-10
  • High beta currencies are among the underperformers with the Pound on the back foot. Get your $GBPUSD market update from @JMcQueenFX here:https://t.co/c2wNgduMlI https://t.co/PjnbvM4w7J
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.65% FTSE 100: 0.52% France 40: 0.50% Wall Street: -0.02% US 500: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/q6ROX6VkUm
  • $Gold and $SPX have both held support at key zones thus far. End of the first full week of Q3 - next week brings on earnings season. https://t.co/19q9npaHNr https://t.co/mdBa6W9vs9
  • Join @malkudsi 's live #webinar at 10:00 AM ET / 2:00 PM GMT to learn about the basics of technical analysis and how to incorporate it into your trading . Register here: https://t.co/wFAMspwUfD https://t.co/ldxvf2AJgm
  • 🇨🇦 Average Hourly Wages YoY (JUN) Actual: 6.8% Previous: 9.96% https://www.dailyfx.com/economic-calendar#2020-07-10
  • $USDCNH | Dollar-Yuan bouncing back above 7.0 as broader bullish trend holds. Meanwhile, the US looks to move forward with federal contract bans on doing business with Chinese tech companies that pose national security risk, and now news China state funds are liquidating stocks. https://t.co/cxkjeDaWqJ
  • 🇨🇦 Full Time Employment Chg (JUN) Actual: 488.1K Previous: 219.4K https://www.dailyfx.com/economic-calendar#2020-07-10
  • 🇨🇦 Employment Change (JUN) Actual: 952.9K Expected: 700K Previous: 289.6K https://www.dailyfx.com/economic-calendar#2020-07-10
US Dollar Rallies after All-Around Strong December US Jobs Report

US Dollar Rallies after All-Around Strong December US Jobs Report

2019-01-04 14:03:00
Christopher Vecchio, CFA, Senior Strategist
Share:

Talking Points:

- Headline jobs growth comes in at +312K, and wage growth came in +3.2% y/y.

- The unemployment rate (U3) rose to 3.9% from 3.7%, but it came alongside a healthy expansion of the labor force participation rate from 62.9% to 63.1%.

- The US Dollar gained ground immediately following the data, with the DXY Index rising from as low as 96.24 to as high as 96.49, at the time this report was written.

See Q1’19 forecasts for the US Dollar, Euro, British Pound and more with the DailyFX Trading Guides

The final jobs report for 2018 has been released, and it’s proven to be one of the better all-around jobs reports of the entire year. The December US Nonfarm Payrolls report showed headline jobs growth of +312K, blowing past expectations of +184K, according to Bloomberg News. The figure closely mirrored the large beat in the corresponding ADP Employment report released earlier this week.

Even though the unemployment rate (U3) unexpectedly rose to 3.9% from 3.7%, it did so alongside a healthy expansion of the labor market, with the labor force participation rate rising to 63.1% from 62.9%. In effect, the rise in the unemployment rate can be explained by the fact that there were more new entrants coming into the labor pool than there were available jobs.

Elsewhere, good news was sprinkled throughout the report. Wage growth remains strong, coming in above expectations at +3.2% (y/y). This reading is tied with October 2018 as the fastest pace of wage growth seen since April 2009.

Here are the data lifting the greenback this morning:

- USD Unemployment Rate (DEC): 3.9% versus 3.7% expected, unch.

- USD Change in Nonfarm Payrolls (DEC): +312K versus +184K expected, from +176K (revised higher from +155K).

- USD Labor Force Participation Rate (DEC): 63.1% from 62.9%.

- USD Average Hourly Earnings (DEC): +3.2% versus +3.0% expected, from +3.1% (y/y).

See the DailyFX economic calendar for Friday, January 4, 2019

DXY Index Price Chart: 1-minute Timeframe (January 4, 2019 Intraday)

dxy index price chart january 4, 2019

Immediately following the data, the US Dollar traded higher versus the Euro and the Japanese Yen, with the Dollar Index (DXY) rallying from 96.24 to as high as 96.49 in the wake of the report. By the time this report was written, the US Dollar was affirming its gains. EUR/USD, which traded as low as 1.1364 after the release intially, was holding at 1.1367 at the time of writing.

FX TRADING RESOURCES

Whether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading.

--- Written by Christopher Vecchio, CFA, Senior Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him in the DailyFX Real Time News feed and Twitter at @CVecchioFX

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

DISCLOSURES

News & Analysis at your fingertips.