Recent US employment statistics trends
December 8 (Friday)
The U.S. employment report was released.
U.S. November non-farm payrolls: Expected +200 thousand, Actual +228 thousand
U.S. November unemployment rate: Expected 4.1%, Actual 4.1%
U.S. November average hourly earnings (month-over-month): Expected +0.3%, Actual +0.2%
Recent U.S. economic indicators have been repeatedly showing favorable numbers, and there is a strong tendency to offset even somewhat weak figures.
After the Lehman Brothers collapse, most indicators were bad, so now we are witnessing the complete opposite phenomenon.
The market consensus seems to be dollar-buying and yen-selling.
Looking at IMM positions, it makes sense that the yen remains heavily short.
With the current U.S. economy in good shape,
the non-farm payrolls, which used to be a focal point, have become less noticed with small swings in the numbers.
Instead now, due to inflation expectations from a boom economy, average hourly earnings are having a much greater impact.
Unless some financial crisis occurs, I think the trend of focusing on average hourly earnings will continue for a while.
Yet in the U.S. employment statistics, there are 40 pips swings in USD/JPY...
It’s nostalgic to think there were times when it moved by 200 pips.
Blog here
To those who wish to win in FX trading ~ The Path to Becoming a Consistent Trader ~
U.S. November non-farm payrolls: Expected +200 thousand, Actual +228 thousand
U.S. November unemployment rate: Expected 4.1%, Actual 4.1%
U.S. November average hourly earnings (month-over-month): Expected +0.3%, Actual +0.2%
Recent U.S. economic indicators have been repeatedly showing favorable numbers, and there is a strong tendency to offset even somewhat weak figures.
After the Lehman Brothers collapse, most indicators were bad, so now we are witnessing the complete opposite phenomenon.
The market consensus seems to be dollar-buying and yen-selling.
Looking at IMM positions, it makes sense that the yen remains heavily short.
With the current U.S. economy in good shape,
the non-farm payrolls, which used to be a focal point, have become less noticed with small swings in the numbers.
Instead now, due to inflation expectations from a boom economy, average hourly earnings are having a much greater impact.
Unless some financial crisis occurs, I think the trend of focusing on average hourly earnings will continue for a while.
Yet in the U.S. employment statistics, there are 40 pips swings in USD/JPY...
It’s nostalgic to think there were times when it moved by 200 pips.
Blog here
To those who wish to win in FX trading ~ The Path to Becoming a Consistent Trader ~
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