US NFP and Unemployment Rate!
The US dollar crashed this week ahead of the todays US Nonfarm Payroll data, mostly on New York FED President Dudley’s speech. He said that financial conditions have tightened since December’s decision. He also said that continued tightening on conditions would weigh on the FED. That’s why the market is expecting delays of the furder tightening, selling the US dollar strong in this week. Anyway, consenus estimate for January’s NFP is 190K despite strong 292K from December. Some of the market players are expect lower numbers at aprox 170-180K for January, but unemployment rate will probably stay steady at 5%. Lower numbers could boost more USD sell-off for the end of the week. Strong numbers could surprise the market and turn everything on the other side. That’s why this is so interesting to watch, stay on alert today. It’s Friday! 😉
13:30 h (GMT) – Nonafrm Payrolls (Jan)!!! – Previous 292K > Consensus 190K! Update > 151K!
13:30 h (GMT) – Unemployment Rate (Jan)!!! – Previous 5% > Consensus 5%! Update > 4,9%!
The US dollar is now in the balance between the very poor NFP data and good information about the fall of unemployment rate bellow 5,0%! In my point of view, the USD could strengthen based on this!