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.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
US Dollar Contained After Large NFP Miss, Fed Outlook Unchanged

US Dollar Contained After Large NFP Miss, Fed Outlook Unchanged

What's on this page

NFP Analysis and Talking Points

  • US Nonfarm Payrolls rose by 20k in February, missing expectations of 180k expected; Prior month revised Higher
  • US Average Hourly Earnings on the month beats consensus

US Bureau of Labor Statistics reported total nonfarm payroll (NFP) employment expanded by a soft 20k jobs in February, missing expectations of 180k. Alongside this, the headline figure for the prior month saw slight upward revision to 311k from 304k. However, the unemployment rate surprising dipped 0.2ppts to 3.8%, better than the expected 3.9%. More importantly for the Fed, wage growth yet again picked up with the yearly rate at 3.4% (Exp. 3.3%) after a monthly increase of 0.4%. As such, while the Fed continue to suggest that inflation pressures remain muted. Recent increases in wage growth are beginning to suggest otherwise. While the USD had initially dropped on the soft headline, this had been offset by the better than expected wage growth and unemployment figures. Overall, this report is relatively mixed, with the significant drop in the headline partly explaned by transitory factors (weather). Alongside this, today's report is unlikely to be a game changer for the Fed outlook given that monetary policy will be on hold for the foreseeable future, thus the market reaction had been somewhat contained. --- Written by Justin McQueen, Market AnalystTo contact Justin, email him at Follow Justin on Twitter @JMcQueenFX

US DOLLAR PRICE CHART: 1-minute Time-Frame (Intra-day)

Market Response

Wage Growth

NFP Report Review

Please add a description for the image.

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