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
Real Time News
  • Join @PaulRobinsonFX at 6:00 EST/10:00 GMT for a webinar on becoming a better trader in current markets. Register here:
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here:
  • Long position of Chinese Estate's (0127 HK) in Evergrande drops from 8.15% to 7.96%
  • $AUDNZD short surely the most consensus trade out there - Diverging CB policy path well embedded - 140bps of NZ tightening priced in by end-22 leaves little room for error - Bar any extreme risk aversion, parity is rare - $AUDNZD bottom after RBNZ hikes in Oct? (13/14 again)
  • 💶 Balance of Trade (JUL) Actual: €20.7B Previous: €18.1B
  • Heads Up:💶 Balance of Trade (JUL) due at 09:00 GMT (15min) Previous: €18.1B
  • ECB's Rehn says Long Term Inflation Expectations are below the ECB's target $EUR
  • 🇭🇰 Unemployment Rate (AUG) Actual: 4.7% Previous: 5%
  • Ever wonder if there are other chart types that can be used for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here:
  • Heads Up:🇭🇰 Unemployment Rate (AUG) due at 08:30 GMT (15min) Previous: 5%
US Dollar Drops, Gold Pops After Soft NFP Report

US Dollar Drops, Gold Pops After Soft NFP Report

Justin McQueen, Strategist

USD, NFP Price Analysis & News

  • US NFP 49k vs Exp. 50k, Prior Reading Revised Lower
  • Unemployment Rate Drops 0.4ppts to 6.3%
  • US Dollar Falls

NFP Mixed as Headline Misses, Revision Downgraded, While Unemployment Rates Beats

A weaker than expected NFP headline at 49k, slightly missing expectations of 50k. Alongside this, the revision to the prior month had been disappointing with a downgrade to -227k from -140k. That said, the unemployment rate had printed notably lower than expectations at 6.3% vs 6.7%, which had been slightly helped by a lower labour force participation rate. Overall, the initial take is that the NFP report is slightly weaker and given the very soft December revision this is likely to reinforce the need for a sizeable fiscal stimulus package as well as a dovish Fed.

USD Drops and Gold Pops

Following the broadly weak NFP report, the US Dollar pulled back slightly, alongside US yields, supporting the dovish Fed case. In turn, following the slightly weaker USD and dip in yields, gold had briefly reclaimed the 1800 level. That said, on the whole the reaction was relatively muted, given that this does not notably change the Fed or Biden administration needle, thus the move has been somewhat shortlived.

Find Out More About Non-Farm Payrolls and How to Trade it

DATA OVERVIEW: DailyFX Economic Calendar

US Dollar Drops, Gold Pops After Soft NFP Report

Source: DailyFX

USD, Gold, Rates Reaction to NFP: Intra-day Time Frame

US Dollar Drops, Gold Pops After Soft NFP Report

Source: Refinitiv

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