The US economy has gained 225,000 jobs in January, above official expectations but not far above real ones. Wages are up only 0.2% monthly.
The US dollar is edging higher.
— more to come
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The economic calendar is showing that economists expect an increase of 160,000 jobs in January – but real estimates have risen after a winning streak of strong figures. ISM’s Purchasing Managers’ Indexes exceeded projections and most importantly, ADP’s private-sector employment data smashed forecasts with a leap of 291,000 positions.
Average Hourly Earnings were predicted to advance by 0.3% monthly and 3% yearly after disappointing in December.
The US dollar has been on a tear in recent days due to the data and also as yields rose amid a step back in coronavirus fears. EUR/USD has hit the lowest since October below 1.0950, GBP/USD has neared 1.29, a new 2020 low, and USD/JPY has flirted with 110.
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