Nonfarm payrolls increased by a staggering 273k in February, clearly overshooting consensus. However, payroll numbers should clearly slow in coming months, in the opinion of analysts at Nordea. Key quotes “Nonfarm payrolls surprised clearly to the upside with a monthly increase of a staggering 273k, while the January figure was also revised up by 48k (85k for the last two months). The 3-month average payroll number increased from 239k to 243k, while the 12-month average is now at 200k.” “The wage component accelerated slightly on a monthly basis with a reading of 0.3% (last month: 0.2%, consensus 0.3%).” “The full negative effects from Covid-19 will not come into play until next month. Hence, expect much weaker numbers in March and April.” “The financial markets did almost not react to the strong job report. Focus is on COVID-19 and the Fed response. This month’s report was simply ‘too old, pre-corona’ news.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WH adviser Kudlow: More information needed before taking fiscal measures FX Street 2 years Nonfarm payrolls increased by a staggering 273k in February, clearly overshooting consensus. However, payroll numbers should clearly slow in coming months, in the opinion of analysts at Nordea. Key quotes “Nonfarm payrolls surprised clearly to the upside with a monthly increase of a staggering 273k, while the January figure was also revised up by 48k (85k for the last two months). The 3-month average payroll number increased from 239k to 243k, while the 12-month average is now at 200k.” “The wage component accelerated slightly on a monthly basis with a reading of 0.3% (last month: 0.2%, consensus 0.3%).” “The full… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
