Trading Forex and CFDs is risky
Read HotForex Daily Market Analysis

Greenback falls on NFP miss

Market Analysis

EURUSD, H1

U.S. nonfarm payrolls rose 148k in December, disappointing expectations for a stronger gain. But it follow a revised 252k gain in November (was 228k) and a 211k October increase (revised from 224k). The job market has posted gains since October 2010. The unemployment rate was steady at 4.1% (was 4.095% out to three digits). The labor force edged up 64k after the prior 162k rise (revised from 148k), with household employment up 104k from 71k (revised from 57k). The labor force participation rate steady at 62.7%. Earnings edged increased 0.3% versus 0.1% previously (revised form 0.2%). The workweek was flat at 34.5. For other details, private payrolls increased 146k (ADP was 250k), with the goods producing sector adding 55k and construction 30k. Manufacturing employment increased 25k. Jobs in the service sector were up 91k. The government added 2k. Despite the headline disappointment, this is a pretty solid report

The dollar fell after the NFP miss, though firmer hourly earnings mitigated to a degree. The wider trade deficit weighed on the greenback as well. EURUSD rallied to intra day highs of 1.2083, and USDJPY fell to 113.02 from 113.30. Equity futures remain near session highs, continuing to indicate a green Wall Street open.

Click here to access the HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! The next webinar will start in:

Andria Pichidi

Market Analyst

HotForex

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.