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


Posted on: 2019-04-04 (Day) By BCR Market Event


 

Will The Jobs Report Continues To Support The Rate Hike In 2019?

 

Date                      Time (GMT)        Previous              Consensus

05 Apr 2019        12:30 PM            20K                       180K

 

A worse-than-expected non-farm payroll in the United States was increased by 20K in February 2019, following an upwardly revised 311K in January. Meanwhile, the unemployment rate declined to 3.8% in February 2019 from 4.0% in the prior month. In the wages category, average hourly earnings (YoY) rose by 3.4% in March. The Fed is watching the wages component as it seeks to meet its inflation target. The Non-farm payrolls for March was scheduled to be released on April 5th. The market expectation Decreased to 180K compared to the last release.

U.S. Non-farm Payrolls (thousand)

 

The private businesses hired 129K employees in March 2019, a sharp decline from 197K in the prior month and well below the market’s expectations of 170K. It was the smallest monthly increase since September 2017. If employment growth weakens much further, unemployment will begin to rise.

U.S. ADP Employment Changes (thousand)

 

Technical View

The greenback has reached a 2-week low at 95.16 in late March after last NFP releases, then the retracement came at 97.09 to create a new barrier. The price seems still suffering from the last NFP releases. In the 4 hours timeframe, indicators are losing their bullish momentum for both MACD and RSI. However, the price is moving above the MA system. Therefore, the price is remaining in the long order. Focus on 97.09 barrier for further movement.

Dollar Index H4 Chart