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
Please try again
Oil - US Crude
Wall Street
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
More View more
Real Time News
  • 🇨🇳 FDI (YTD) YoY (DEC) Actual: 6.2% Previous: 6.3%
  • Wall Street Futures Update: Dow Jones (+0.13%) S&P 500 (+0.21%) Nasdaq 100 (+0.43%) [delayed] -BBG
  • While the US Dollar has been holding its ground, its downside bias against the Singapore Dollar, New Taiwan Dollar Thai Baht and Indonesian Rupiah remains intact as it hovers at support. Get your market update from @ddubrovskyFX here:
  • Asia-Pacific stocks look set to trade higher after US Treasury secretary nominee Janet Yellen showed her support to Biden’s US$ 1.9 trillion fiscal stimulus plan - a boost to energy, industrial and information technology sectors in particular.
  • The US Dollar may be finding a turning point against ASEAN currencies as smaller fiscal stimulus bets, soft earnings risk and Covid cases translate into some capital flight from equities. Get your #ASEAN currencies market update from @ddubrovskyFX here:
  • Heads Up:🇺🇸 Joe Biden's Inauguration due at 00:00 GMT (15min)
  • Heads Up:🇦🇺 Westpac Consumer Confidence Index (JAN) due at 23:30 GMT (15min) Previous: 112
  • 6 out of 9 Dow Jones sectors advanced on Tue, with 56.7% of the index’s constituents closing in the green. Energy (+2.63%), industrials (+1.32%) and information technology (+0.91%) were among the best performers, whereas consumer staples (-0.90%) trailed behind.
  • Cable noticeably stronger recently, now trading above 1.36 $GBP $USD
  • The New Zealand Dollar has slipped lower in recent days against its major counterparts, as risk appetite notably faded. Key levels to watch for NZD/USD, NZD/JPY and AUD/NZD. Get your $NZD market update from @DanielGMoss here:
February US Non-Farm Payrolls (NFP) Prints at +273k

February US Non-Farm Payrolls (NFP) Prints at +273k

James Stanley, Strategist

US Dollar, US NFP Talking Points

  • The US Dollar came into the morning holding on to an aggressive bearish trend.
  • This morning brought the release of February Non-Farm Payrolls Numbers.
  • This morning’s NFP print was released to a tune of +273k v/s the expectation of +175k. The unemployment rate came in at 3.5% v/s the expectation for 3.6%. And Average Hourly Earnings printed in-line with the expectation of 3%.

US Non-Farm Payrolls for February

It was a busy backdrop coming into the morning as a recent round of risk aversion sent global markets spiraling in disarray. While stocks have seen a bit of pressure, it’s been moves in the significantly larger US Treasury market that’s caught so many by surprise.

This flight to quality is being driven by fears around the still-spreading Coronavirus, and investors and traders have started to hone in on data releases in the effort of gauging just how much slowdown may emanate from this fear.

In the US, the risk is still relatively new, so data is of the upmost importance in trying to set those expectations; and Non-Farm Payrolls is especially pertinent given that it’s the fastest look recent econ, particularly on the employment-front.

This morning’s NFP report was a blowout number, printing at +273k vs the expectation of +175k. The unemployment rate edged back down to 3.5% from last month’s 3.6%, and even wage gains remained strong as Average Hourly Earnings printed at 3%. This provided a quick boost to the US Dollar after a really aggressive span of weakness had taken-over the currency.

US Dollar One-Minute Price Chart

US Dollar One MInute Price Chart

USD on Tradingview

The bigger question, however, is of a bigger picture nature and how or even if this might impact the stance around the Federal Reserve. It was just a few days ago when the FOMC announced an emergency rate cut of 50 basis points, the first of its kind.

USD Forecast
USD Forecast
Recommended by James Stanley
Download our fresh Q1USD Forecast
Get My Guide

As discussed in yesterday’s webinar, the US Dollar had quickly moved into an oversold state after just two weeks ago setting a fresh three-year-high. This stunning reversal is driven by the expectation for the FOMC to get even more loose and passive down-the-road, with Coronavirus popping up as a near-term risk.

US Dollar Daily Price Chart

US Dollar Daily Price Chart

USD on Tradingview

Taking an even further step back, and the reversal backdrop in the US Dollar remains as seen on the weekly chart below.

US Dollar Weekly Price Chart

US Dollar Weekly Price Chart

USD on Tradingview

--- Written by James Stanley, Strategist for

Contact and follow James on Twitter: @JStanleyFX

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