4 min readThe latest Non-Farm Payrolls (NFP) report has been released, revealing actual job gains of 256,000 for the U.S., which is considerably higher compared to the forecast of 164,000 and last month’s actual figures of 227,000. These results reflect a strong statement about the U.S. economy, showcasing clear signs of economic growth within the U.S.
The U.S. unemployment rate came in at 4.1%, slightly lower than the forecast and the previous rate of 4.2%. These figures will play a key role in the Federal Reserve’s considerations for their upcoming interest rate decision later this month, where the likelihood of a pause on the current interest rate remains evident.
DOLLAR INDEX (DXY):
Post the release of the NFP results, we have seen the Dollar Index increase by a staggering 0.76%, which has correlated to a 0.90% decrease on EURUSD.
EURO VS DOLLAR (EUR/USD):
If we take a closer look at the technicals, we can observe how price was trading just below 1.03100 before the news release, and post the release we have seen price action push considerably lower into the 1.02200 region. Marking a significant break in structure to the downside.
S&P 500 (SDX):
The S&P 500 has also seen a direct impact from this NFP data result release, as we saw price trading at just over $5,950.00 before the announcement, and currently we are trading just below $5,900.00. Marking a significant decrease of over 1% within the last hour of trading.
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