U.S. Non-farm Payrolls (March 2019)


Posted on: 2019-03-07 (Day) By BCR Market Event


 

Date                      Time (GMT)        Previous              Consensus

08 Mar 2019       01:30 PM             304K                      170K

 

A better-than-expected non-farm payroll in the United States was increased by 304K in January 2019, following a downwardly revised 222K in December. Meanwhile, the unemployment rate rose to 4.0% in January 2019 from 3.9% in the prior month. In the wages category, average hourly earnings (YoY) rose by 3.2% in February. The Fed is watching the wages component as it seeks to meet its inflation target. The Non-farm payrolls for February is scheduled to be released on March 8th. The market expectation Decreased to 170K compared to the last release.

U.S. Non-farm Payrolls (thousand)

 

The private businesses hired 183K employees in February 2019, a considerable decline from 300K in the prior month and slightly below the market’s expectations of 189K.

U.S. ADP Employment Changes (thousand)

 

Technical View

The greenback has reached an 8-week high at 97.20 in February from 94.60 in early January, then the retracement comes at 95.70 to create a support level. The price continues lifting since 1st of March. In the 4 hours timeframe, indicators are gaining bullish momentum for both MACD and RSI, the price is moving above the MA system to show its long order. Focus on 97.20 barrier for further movement.

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