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

Posted on: 2019-02-01 (Day) By BCR Market Event


Will NFP Support The Rate Hike in 2019?


Date                      Time (GMT)        Previous              Consensus

01 Feb 2019        01:30 PM            312K                     165K


A better-than-expected non-farm payroll in the United States was released by 312K in December 2018, following an upwardly revised 176K in November. Meanwhile, the unemployment rate rose to 3.9% in December 2018 from a 49-year low of 3.7% in the prior month. In the wages category, average hourly earnings (YoY) rose by 3.2% in December, which is the quickest pace since 2009. The Fed is watching the wages component as it seeks to meet its inflation target. The Non-farm payrolls for January is scheduled to be released on February 1st. The market expectation Decreased to 165K compared to the last release.

U.S. Non-farm Payrolls (thousand)


The private businesses hired 213K employees in January 2019, a considerable decline from 263K in prior month but slightly above the market’s expectations of 178K.

U.S. ADP Employment Changes (thousand)


Technical View

The greenback is consolidating in a range between 94.62-96.55 during January. In the 4 hours timeframe, MACD is remaining in the bearish stance, RSI is forming a downward trend since 20th of January. The 50-DMA and 100-DMA is narrowing to show the potential reversal of the long order, also the price is moving below the MA system. Focus on 96.62 support level for further movement.

Dollar Index H4