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NFP only +160K, wages +2.5% – USD wins

Weakest jobs creation in some time, only 160K, similar to the ADP. Negative revisions of 19K. Unemployment at 5%. Wages are up 0.3% and 2.5% which is a match of the highest read in previous months. While the USD is weaker, the rise in wages softens the blow. and help it  recover. It is important to note that the trend is with the greenback this week, after Turnaround Tuesday.

No rate hike in June? No problem. It’s just the trend since Tuesday.

The US Non-Farm Payrolls was expected to show a gain of 203K jobs in April with a wage rise of 0.3% m/m and 2.3% y/y.

Follow the live blog right here, followed by  updates on the hard data below:

May 6 NFP Live Blog

April NFP Data

  • Non-Farm Payrolls:  160K  (exp. +203K, last 215K  before revisions)
  • Average Hourly Earnings:+0.3%, 2.3% y/y  (exp. +0.3% m/m, last month +0.3% m/m, 2.3% y/y)
  • Revisions: -19K  (-1K last time)
  • Participation Rate: 62.8%  (63% last month )
  • Unemployment Rate: 5%  (exp.5%,  last month 5% before revisions)
  • Private Sector: 171K  (ADP showed only +156K).
  • Real Unemployment Rate (U-6): 9.7%    (previous: 9.8%).
  • Employment to population ratio: 59.7%  (previous: 59.9%)
  • Average  workweek: 34.5  (last month: 34.4).

Currencies and the NFP

  • EUR/USD traded around 1.1425, moving up from the lows. 1.1460 is resistance, 1.1335 is support. See how to trade the NFP with EUR/USD. The pair went all the way to 1.1477 beofre falling to 1.1410.
  • GBP/USD was just under 1.45 with 1.4440 as support and 1.4580 as resistance. The pair is at 1.4430.
  • USD/JPY flirted with 107. Range: 106.10 to 1.0765. The pair is down to 106.50.
  • USD/CAD tradd at 1.2880. Range: 1.2830 to 1.2930. The pair is higher, but it is important to  remember there was a jobs report also in Canada.
  • AUD/USD was around 0.7370 after the second RBA hammer. Range: 0.7280 to 0.7440. AUD/USD is lower, at 0.7333.
  • NZD/USD was around 0.6845. Range: 0.6820 to 0.6950. The kiwi is dipping its feet under 0.6820.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.