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

Posted on: 2019-06-07 (Day) By BCR Market Event


Date                      Time (GMT)        Previous              Consensus

07 June 2019      12:30 PM             263K                    185K


A better-than-expected non-farm payroll in the United States was increased by 263K in April 2019, following a downwardly revised 189K in March. Meanwhile, the unemployment rate hits a 50-year low, which decreased to 3.6% in April 2019 and below market expectations. In the wages category, average hourly earnings (YoY) rose by 3.2% in April. The Fed is watching the wages component as it seeks to meet its inflation target. The Non-farm payrolls for May was scheduled to be released on June 7th. The market expectation Decreased to 185K compared to the last release.

U.S. Non-farm Payrolls (thousand)


The private businesses hired 27K employees in May 2019, sharply declined from 271K in the prior month and well above the market’s expectations of 180K. It was the slowest growth pace within 9 years. The unemployment rate will increase if employment growth is weakening much further.

U.S. ADP Employment Changes (thousand)



Technical View


The Dollar Index (DXY) was declined from 98.24 barrier since the beginning of June. In the 4 hours timeframe, MACD is remaining in the bearish territory, RSI is consolidating below the neutral axis. The price is moving beneath the MA system. In overall, the Dollar Index is more likely to heading South. Focus on 96.35 support level in the short run, if the price break through the support level, the US dollar would drop furthermore.

Dollar Index H4 Chart