Extrait:Statistics from the US Department of Labour show that US Nonfarm Payroll increased by 225,000 in January, 2020, exceeding the market’s estimation of 165,000 and December’s 147,000 after revision while being significantly higher than the 175,000 of the same period last year.
Statistics from the US Department of Labour show that US Nonfarm Payroll increased by 225,000 in January, 2020, exceeding the market’s estimation of 165,000 and December’s 147,000 after revision while being significantly higher than the 175,000 of the same period last year.
Among these, private sector saw an increase of 206,000 jobs, higher than market estimation of 150,000 and the 139,000 of previous month after revision. Labour force participation rate also rose from 63.2% in December, 2019 to 63.4% in January, 2020.
The better-than-expected employment data suggests the US job market remains robust. Government’s survey on businesses shows building and construction job growth in January has been the highest in a year, while recruitment in transportation and logistics also boost strong growth.
We conclude that a steady situation employment supports the opinions of the Fed’s policymakers that the job market is strong, and the employment figures backed the decision of Federal Reserve Board to hold interest rate at current level. The Fed’s Chairman Jerome Powell also noted that the current monetary policy is on the right track, while the optimistic data also offers positive support to US dollar’s exchange rate.
USDX daily pivot points 98.44-98.52
S1: 98.38 R1: 98.67
S2: 98.18 R2: 98.78
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FP Markets
IG
ATFX
BBI Trading
IPCAPITAL
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FP Markets
IG
ATFX
BBI Trading
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