Brief Summary: The nonfarm payrolls figure released by the US Department of Labor presents the number of new jobs created during the previous month, in all non-agricultural business, within the States. The payrolls figure can change significantly month on month, due to its high correlation with economic policy decisions made by the US Central Bank. The
Share: Japanese Yen continues its recovery into the weekend on potential for divergent monetary policy. BoJ has started normalizing policy as other central banks are close to reaching the end of their tightening cycles. USD/JPY declines sharply after Nonfarm Payrolls miss brings into doubt further Fed rate hikes. The Japanese Yen (JPY)
Share: Nonfarm Payrolls surprised expectations to the downside in October. This brought the USD lower from its high ground. Economists at TD Securities analyze Greenback’s outlook. A topping out of 10Y yields and US rates vol will help revive the high-quality carry currencies Both the headline jobs number and wage data came on
Share: The Canadian Dollar is bounding higher, extending weekly gains. Canada Unemployment Rate missed forecasts, hampering CAD upside. CAD gains 17.5K jobs, entirely part-time employment; wage growth also lower. The Canadian Dollar (CAD) is seeing further upside against the US Dollar (USD) after a US Nonfarm Payrolls (NFP) report that came in below
Share: EUR/USD rallies amid a softer US labor market, with Nonfarm Payrolls missing the 180K target. Speculation grows for Fed rate cuts in H2 2024 as hiring slows and unemployment ticks up. Despite EU’s own economic slowdown, the Euro benefits from broad USD weakness and reduced rate hike bets. EUR/USD rallies during Friday’s